Many states charge you annual fees to keep your LLC running. If you don't officially shut down the company, you'll still be charged, possibly with late fees. Some states will dissolve the LLC after that, but not all. If you operate in several states, you will have to officially formalize in all of them.
What happens to an unused llc?
Many states charge you annual fees to keep your LLC running. If you don't officially shut down the company, you'll still be charged, possibly with late fees.
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business
What is the cheapest way to obtain a limited company?
The cheapest way to probably form a LLC or corporation is to do it yourself. You can utilize a service to help you thru the process, making it fast and easy.
Is it better to be an llc or sole proprietor?
An LLC has several advantages in the areas of legal protection and liability. While there are filing fees for setting up an LLC, that cost can be worth it compared to the thousands of dollars you could be responsible for as a sole proprietor.
business
Is it worth setting up a limited liability company?
Probably the most obvious advantage of forming an LLC is the protection of your personal assets by limiting liability to the resources of the company itself. In most cases, the LLC will protect your personal assets from claims against the company, including lawsuits.
Do corporations really protect you?
When you think of a corporation, what do you think of? Large buildings, big companies, and a whole lot of money? Corporations can protect you from liability.
