Nolo’s Quick LLC: All You Need to Know About Limited Liability Companies

By Attorney Anthony Mancuso, Nolo Press

Description:

If you are wondering whether or not a limited liability company is right for you, Nolo's Quick LLC is the book to grab.

Written by LLC expert Attorney Anthony Mancuso, this book shows you, in plain English, the advantages and drawbacks of forming an LLC, and how the LLC compares with running a business as a corporation, partnership or sole proprietorship. It explains:

• how LLCs are formed by filing Articles of Organization with the state
• the Operating Agreement, which details the legal rights and responsibilities of LLC members and managers
• how you can choose between a member-run or manager-run LLC
• important tax options that qualify an LLC for partnership tax treatment -- an essential benefit of forming an LLC
• the required ongoing legal and tax paperwork

Table of Contents

Introduction

1. Should You Seriously Consider Forming an LLC?
2. What This Book Does and How to Use It
3. What This Book Doesn't Do
4. Legal and Tax Experts
5. Other Nolo LLC Resources

1. An Overview of LLCs

1. The Elements of an LLC
2. Exceptions to Owners' Limited Liability
3. Basics of Forming an LLC

2. The LLC vs. Other Business Structures

1. Business Structures Other Than the LLC
2. Sole Proprietorship: Advantages and Disadvantages
3. What is a General Partnership?
4. What is a Limited Partnership?
5. What is a C Corporation?
6. What is an S Corporation?
7. What is an RLLP?
8. Deciding Between an LLC and Another Business Type
9. Business Structures Comparison Table

3. Members' Capital and Profits Interests

1. The Creation of LLC Capital Interests
2. Tax Considerations of Start-up Capital
3. Converting a Pre-Existing Business to an LLC
4. The Creation of LLC Distributive Shares (Profit and Loss Interests)
5. Special Allocations of LLC Profits and Losses

4. Taxation of LLC Profits

1. Standard LLC Pass-Through Tax Treatment
2. How LLCs Report and Pay Federal Income Taxes
3. Election of Corporate Tax Treatment
4. LLC Owners and Self-Employment Taxes

5. LLC Management

1. Member vs. Manager Management
2. Legal Authority of LLC Members and Managers
3. Members and Manager Meetings
4. Member and Manager Voting Rights

6. Starting and Running Your LLC: The Paperwork

1. Paperwork for Forming an LLC
2. Ongoing LLC Paperwork
3. LLCs and Securities Filings

7. Getting Legal and Tax Help for Your LLC

1. Getting Legal Help for your LLC
2. Getting Tax Help

Appendixes

• Appendix A
• Appendix B
• Appendix C

Index