The first decision you have to make when you establish a business, whether in North Dakota or in any other state, is to choose a business structure. When you read the definitions of the business structures, it seems simple, but each business structure has its own fairly complex set of rules regarding taxes and the legal relationships among the owners of the business. Before you choose a business structure, it is wise to consult a business attorney like Stephen Welle.
One of the most popular choices of business structure is Limited Liability Company (LLC), but its definition is one of the most confusing out of all the business structures. Its identifying feature is that its owners cannot be forced to use their personal wealth to pay its debts or judgments, but beyond that, one LLC can differ substantially from another. There are many ways to structure an LLC, and this flexibility makes it an attractive choice for many business owners, but deciding how to structure your LLC requires an expert in small business law.
Quick Facts About LLCs in North Dakota
Advantages of Forming an LLC
Here are some reasons why you might want to choose an LLC as your business structure for a North Dakota business:
Contact O’Keeffe O’Brien Lyson Foss About Legal Services for LLCs
No matter what type of business structure you choose, you can save yourself a lot of trouble by discussing the process with Steve Welle, and experienced business attorney. Contact O’Keeffe O’Brien Lyson Foss in Fargo, North Dakota or call 701-235-8000 or 877-235-8002 for help establishing your LLC.