LLC Atlanta

LLC Atlanta

No matter where you incorporate, you will be required to qualify in each state in which you operate. If the Limited Liability Company (LLC) is operating in the state Atlanta you will be required to pay applicable corporate and income taxes (depending on what you elect for the tax treatment of the LLC). In the most basic and general terms an LLC features are that its members have limited liability for the entity's debts and obligations, similar to the status of shareholders in a corporation, and its income and losses are normally passed through to the owners as if it were a partnership. Some states also have significantly higher annual corporate registration fees than Atlanta. In some circumstances, a corporation may elect to incorporate in a state different from the one in which their principal place of business is located for reasons including applicability of various corporate laws (including takeover laws), licensing matters, specific tax advantages, etc. Each of these circumstances should be assessed based on the specific facts regarding the company and its business and should be discussed with professionals. For most small businesses, the additional tax and state reporting obligations, the additional annual fees, the risk that you may be sued in that state in which you are not incorporated and have to defend a lawsuit in that other state, often outweigh any perceived advantage. This answer and any information contained in this answer are not intended to be treated as legal advice. It is legal information. Other information and documentation important to your specific circumstances may impact the applicability of this information. This posting does not create an attorney-client relationship or privilege of any kind. This attorney is actively licensed only in the State of Atlanta.

LLC in Atlanta get an unsecured loan

Unsecured loan

As starting new company in Atlanta. If you have some capital to invest but will need a loan (not huge: around $60,000) to start up. This LLC is high risk and so the person who are starting LLC or person is very worried what will happen if I he will not able to repay the loan. He was thinking of setting up a LLC and look for a unsecured loan. In every person some questions are always coming e.g. Is that possible? Can my newly formed LLC (which does not have any business credit) get an unsecured loan? Would I have to sign a personal guarantee when I get such loan for my business? Who would be willing to provide a unsecured loan to a newly established LLC? The answers of these questions are very simple. This answer is for informational purposes only and discusses general legal principles, trends, and considerations and is not intended as specific legal advice regarding your question. In this lending environment it is not likely that a new business could qualify for an unsecured loan. Most lenders will require that you have regular income, personally guarantee the loan and have assets that can be secured. Of course this all depends. You may want to contact the SBA for their programs and other options. You should speak with a local attorney regarding your issue. Contact people you know and trust for referrals. If you have no referrals, contact your local bar association for their referral program. Alternatively, you could try to get funding by issuing securities in a private offering. This is an extremely complex area of law and something that requires legal counsel as you need to comply with myriad state and federal laws.

Maintain LLC Legal entity

Mainlining Legal entity is very important factor for every Limited Company. Corporate stock can be seized by a judgment creditor to satisfy the judgment. The ownership interest of a properly structured multi-member limited liability company, formed in an appropriate state, is protected from judgment creditors and is not subject to being detained by a judgment creditor. If the creditor can establish for the judge or jury's satisfaction that the owners have not properly maintained the legal entity, the court may allow the creditor to pierce the veil of the legal entity or treat the legal entity as the individual's alter ego. Often, a judgment creditor will seek to "pierce the corporate veil" or establish that a legal entity is the "alter ego" of the individual owners. That allows the creditor to pursue collection of the judgment against the individual owners' assets. To ignore that result, the owners of the LLC must ensure that it is properly maintained and treated for all purposes as a separate legal entity. That means the owners should have regular (at least annually) meetings where the entity's business affairs are reviewed and approved; that the entity has its own bank accounts, books and records, that it files it's own tax returns, enters into contracts in its own name, and is otherwise treated as a separate legal entity by the owners.

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