LLC incorporation procedures

An LLC, also known as a limited liability firm, is a commercial structure that offers personal liability protection as well as flexibility when is related to management and taxes. The formation of an LLC is established by filing articles of association before the secretary of state in the state in which the LLC will operate.After an LLC has been formed the members of the LLC must decide how the LLC will be taxed. The LLC may be taxed as a partnership, sole proprietorship, or corporation. The default tax classification for an entity with only one member is a sole proprietorship, and the tax classification default for an LLC that has multiple members is the partnership.