85 Percent of U.S. businesses fail to meet the most basic of corporate compliance standards, jeopardizing the good standing of their organization. Safe Shield operates with one goal in mind – to provide the businesses it serves with the best asset protection and growth assistance in the U.S. In 2007, Safe Shield launched a complete compliance solution program designed to keep businesses and nonprofits compliant with corporate requirements.
Safe Shield believes in the power of business, so we expanded our services beyond compliance to entity formation assistance. We know that in order for businesses to stay compliant, they must first be formed the right way. Many businesses, especially small businesses, recognize the need for legal liability protection. This type of protection essentially separates the business from the business owner(s), ensuring all liabilities and obligations are the responsibility of the business entity and not the business owner(s).
A limited-liability company (LLC) is one of the most popular types of business entities that may be treated like a general partnership, sole proprietorship, or S-Corporation under tax law, but has the limited liability of a corporation. In an LLC, each owner (called a member) has limited liability, and any entity like an individual, corporations, trusts, estates, or partnerships, or other LLCs can be owners.
An LLC is a hybrid business formation that mixes the very best from sole proprietorships, corporations, and partnerships. There are a plethora of advantages to creating an LLC. Some of these advantages include: pass-through taxable income and losses, limited liability, management control and greater flexibility than corporations. LLCs can avoid many of the rules that bind corporations, like shareholder requirements, producing annual reports, and holding directors meetings. In addition, LLC members are free to distribute profits anyway they deem fit, and partnership and ownership interests are assigned differently than profit and loss.
Becoming an LLC is a beneficial option for almost any business. Deciding which entity type is best for your business depends on your business’ specific needs and requirements such as: the nature of the business, tax requirements and consequences, management control, and other factors. If you are unsure if becoming an LLC is right for your business, the experts at Safe Shield are here to help you make an informed decision about entity formation. We will analyze your business plans and requirements, figure out projected business growth, and goals, and then discuss if an LLC or one of our other entity options is right for you.
To find out more about forming a Limited-Liability Company, we encourage you to review our Business Formation System Page, or schedule a phone call with one of our experts.