In Missouri and Kansas, the overwhelming number of small businesses start as LLCs. We started LexLaunch.Com to meet the needs of business owners who already know they want an LLC.
An LLC, which stands for Limited Liability Company, is a relatively new form of business licensure. Designed with small businesses in mind, this status offers a slew of benefits. Starting a new business in the current market can sometimes be a trying experience. However, the acquisition of an LLC can help with the transition. Many customers are more apt to do business with an established LLC, rather than a sole proprietor or general partnership.
Unlike sole proprietors and general partnerships, LLCs provide legal protection for its members. Just as the name suggests, owners of an LLC have limited liability, which means their personal assets — think homes, vehicles, and bank accounts — are not financially liable for business expenses, giving business owners peace of mind.
LLCs are not subject to as many state-required formalities and processes as corporations, but still provide their owners the same limited liability corporations provide. These same business owners are also at liberty to structure their business as they see fit, operating freely from boards of directors and other restrictions that accompany traditional business models.
Become an LLC Now
There are some initial fees for state filings; however, establishing your business as an LLC is a relatively cost-effective solution.
But, some very special situations might require a form beside an LLC. If you have any question about the correct form for your situation, you should consult an attorney or tax professional.