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1. 01

   What is an LLC?
   What is an LLC?

   A Limited Liability Company (LLC) is a legal business structure that combines the flexibility and simplicity of a partnership or sole proprietorship with the liability protection of a corporation. It offers owners, known as members, limited personal liability for the company's debts and obligations, shielding their personal assets from business-related liabilities. LLCs are popular among small businesses and startups due to their ease of formation, minimal administrative requirements, and the ability to choose how they're taxed, either as a sole proprietorship, partnership, S corporation, or C corporation. This structure has become widely adopted due to its advantageous blend of liability protection, tax flexibility, and simplified management.

2. 02

   How do I form an LLC?
   How do I form an LLC?

   Forming an LLC involves several steps to establish your business entity. Here are four essential steps to guide you through the process:

   • Choose a unique name and confirm availability.
   • File Articles of Organization with the state.
   • Appoint a registered agent with a local address.
   • Obtaining any necessary business licenses and permits.

   NCH is here to ensure a seamless process, with dependable business experts ready to assist you throughout each phase.

3. 03

   What are the main benefits of forming an LLC?
   What are the main benefits of forming an LLC?

   Creating an LLC brings two main benefits: protection and flexibility. It guards your personal assets from business debts. Plus, it lets you choose how to pay taxes in a way that suits your money plans. Also, it's simpler to run with minimal paperwork requirements, making it exceptionally suitable for small businesses.

4. 04

   What is the cost for an LLC?
   What is the cost for an LLC?

   The cost of establishing an LLC can vary depending on factors such as the state you're registering in and any additional services you may require. Generally, you can expect to pay filing fees to your state's business registration agency, which can range from around $50 to a few hundred dollars. There might be ongoing costs such as annual report fees or taxes, and optional expenses could include legal assistance or professional consultation, impacting the overall cost of forming and maintaining an LLC.

5. 05

   How long does it take to form an LLC?
   How long does it take to form an LLC?

   The time it takes to establish an LLC depends on several variables, including your state's processing speed, completeness of documentation, and chosen filing method.  Typically, the process can take anywhere from a few days to several weeks. Factors like accurate documentation, availability of required information, and any additional processing requests can also influence the overall duration.

6. 06

   LLC vs S-corp: What’s the difference?
   LLC vs S-corp: What’s the difference?

   Taxation:

   LLC: Members report business profits and losses on their personal tax returns; flexible taxation options.
   S-corp: Shareholders receive salaries subject to payroll taxes, with remaining profits distributed as dividends, potentially reducing self-employment tax.

   Ownership and Structure:

   LLC: Ownership in terms of membership interests; flexible management structure.
   S-corp: Owned by shareholders with a board of directors; more rigid management structure.

   Limitation on Owners:

   LLC: No restrictions on ownership types or numbers.
   S-corp: Limited to 100 shareholders, who must be U.S. citizens or residents.

   Corporate Formalities:

   LLC: Less strict formalities and record-keeping.
   S-corp: Requires regular meetings, minutes, and compliance with more corporate formalities.