Why settle for an LLC incorporation? 

LLC incorporation, also known as a Limited Liability Company Incorporation is an option that is available to majority of business owners who want to give their business a separate juridical personality apart from the owners. This type of incorporation is suitable for small business ventures because of the many benefits it offers.

There are actually a lot of choices available to a business owner who wants o incorporate his business. He can choose to make his business a general corporation, a stock or non profit corporation or a limited liability corporation.

While this type of company has been included among the choices in incorporating a business, it should be made clear that a limited liability company is not a corporation or a partnership. It is an independent classification that has different perks and benefits from the other business types.

The following are the characteristics of a limited liability company:

1. It has a limited number of people forming the company so some people refer to it as the best choice for small companies that want to incorporate.

2. While it is neither a corporation nor a partnership, what is ideal about this type of company is that it enjoys the benefits being enjoyed by both types.

3. Forming an LLC does not mean going through all the rigors of incorporating a business but you have to accomplish the necessary paper works.

4. Since an LLC enjoys the same perks enjoyed by both a corporation and a partnership, the business can file its taxes as a partnership or as a corporation whichever he prefers

5. Forming an LLC would mean dispensing with the articles of incorporation because unlike a corporation which is required to file one, an LLC can get by without such formalities.

6. Businesses get to enjoy a lot of tax perks as an LLC because most states impose a one-time tax for LLC's. There is also no need to file separate taxes for the business and the owners.

7. An LLC is ideal for small businesses because unlike corporations which require the decision of the board before a business decision is made, an LLC can decide based on the common decision of the members.

8. An LLC can take the form of a single proprietorship or partnership business or it can also take the form of a C or S corporation

While a limited liability company does not require all the documents that are needed when incorporating a business, it however requires some of the most important aspects of incorporation.

The business owner should still choose an appropriate and a unique business name for his LLC to give it an identity. And like one of the important requirements for a corporation, an LLC should also get an agent who will serve as the company representative.

While an LLC does not need an article of incorporation, it however needs to file articles of organization and pay the necessary fees upon submitting the required documents.