Limited Liability Companies: Overview
Doing Business As
DBA Information
One of the choices available to persons who wish to conduct a business is to operate as a limited liability company (LLC). Compared to corporations and partnerships, the LLC is a relatively new business entity. The name of an LLC conveys the most important feature: the LLC itself, and not its members, have liability for the LLC’s debts and losses. The key to achieving this limited liability is to form and operate the LLC properly.
Formation of LLC Governed by State Law
Every state has a statute that applies specifically to limited liability companies. The rules are usually found in the section for corporations or business organizations. The state laws do vary, so it is important to form an LLC pursuant to the applicable state’s law. To give the reader a general idea of the characteristics of an LLC, this discussion contains rules that are common to many, but not all, states’ LLC provisions.
Naming your LLC
The name of an LLC must contain the words “limited liability company,” “L.L.C.” or “LLC” as the last words. The purpose of this requirement is to put those who do business with the LLC on notice that they may look only to the company itself for satisfaction of any liabilities.
Articles of Organization
The first step in forming an LLC is to prepare the articles of organization, which contain the most basic information about the company. The articles of organization are the counterpart of the articles of incorporation of a corporation. The articles of organization must contain:
- Name of the LLC, ie Elite Home Care Assisted Living
- Mailing and street address of the company’s principal office
- Name and street address of the company’s registered agent
- Other information that the members elect to include
Other matters that may be contained in the articles of organization are the names of the initial members of the LLC, the purpose for which the LLC is formed, or the form of management of the LLC.
The articles must be signed by at least one member or authorized representative of the LLC and filed with the secretary of state or other designated state official. A filing fee is payable when the articles of organization are filed.
DBA State Information
DBA Questions
Incorporation: Benefits
More Research
Business Name Search
Which State Are You Filing In?
DBA FORM