Limited Liability Companies (LLCs) have become the preferred form of organization for businesses of all sizes. This is due to their flexibility, lack of corporate formalities, protection against individual liability and pass through taxation. LLCs can include—and are well-suited for—real estate owners, family businesses, family investments and operating businesses of all kinds.
At Axley, we have a wide variety of experience in forming and advising numerous LLCs.
The central document for an LLC is its operating agreement. An operating agreement is a contract between the members outlining how they will own, manage and end their company. Consequently, it is crucial to have the right operating agreement from the start.
One advantage of the LLC form of organization is its flexibility. An LLC can accommodate virtually any business arrangement, and the members can agree to operate and divide the profits (and losses) from the LLC in any way they see fit. When starting, operating or changing an LLC, it is important to have an experienced, knowledgeable business attorney involved in order to ensure the LLC arrangement is sensible, enforceable, tax efficient and has proper documentation.
Axley’s Limited Liability Company attorneys help members of LLCs understand their options and the tax effects of their actions. We also use our creativity to problem-solve and find any alternatives which may produce more advantageous results and/or ensure correctly crafted agreements.