Nolo's Quick LLC : All You Need to Know about Limited Liability Companies

by Mancuso, Anthony

• ISBN13: 9780873375733
• ISBN10: 0873375734
• Edition: 1st
• Format: Paperback
• Copyright: 2000-06-01
• Publisher: Nolo

Summary

This book provides essential information for small business owners in all 50 states. It explains, in plain English, the advantages and drawbacks of forming a limited liability company (LLC).

The book discusses:
-- how LLCs are formed
-- the Operating Agreement
-- choosing between a member-run or manager-run LLC
-- important tax options that qualify an LLC for partnership tax treatment
-- the required ongoing legal and tax paperwork

Provides readers with the URLs and phone numbers they'll need to get required LLC forms.

Table of Contents

INTRODUCTION
Should You Seriously Consider Forming An LLC?	3	(7)
What This Book Does and How to Use It	10	(1)
What This Book Doesn't Do	11	(1)
Legal and Tax Experts	11	(1)
Other Nolo LLC Resources	12
An Overview of LLCS
The Elements of an LLC	4	(10)
Exceptions to Owners' Limited Liability	14	(10)
Basics of Forming an LLC	24
The LLC VS. Other Business Structures
Business Structures Other Than the LLC	3	(1)
Sole Proprietorship: Advantages and Disadvantages	4	(5)
What is a General Partnership?	9	(7)
What is a Limited Partnership?	16	(3)
What is a C Corporation?	19	(14)
What is an S Corporation?	33	(5)
What is an RLLP?	38	(4)
Deciding Between an LLC and Another Business Type	42	(3)
Business Structures Comparison Table	45
Members' Capital and Profits Interests
The Creation of LLC Capital Interests	2	(2)
Tax Considerations of Start-Up Capital	4	(7)
Converting a Pre-Existing Business to an LLC	11	(2)
The Creation of LLC Distributive Shares (Profit and Loss Interests)	13	(2)
Special Allocations of LLC Profits and Losses	15
Taxation of LLC Profits
Standard LLC Pass-Through Tax Treatment	2	(7)
How LLCS Report and Pay Federal Income Taxes	9	(1)
Election of Corporate Tax Treatment	10	(11)
LLC Owners and Self-Employment Taxes	21
LLC Management
Member Vs. Manager Management	2	(4)
Legal Authority of LLC Members and Managers	6	(2)
Members and Manager Meetings	8	(3)
Member and Manager Voting Rights	11
Starting and Running Your LLC: The Paperwork
Paperwork For Forming an LLC	2	(13)
Ongoing LLC Paperwork	15	(11)
LLCS and Securities Filings	26
Getting Legal and Tax Help for Your LLC
Getting Legal Help for Your LLC	2	(9)
Getting Tax Help	11
APPENDIXES
Appendix A	A/1
Appendix B	B/1
Appendix C	C/1
Index