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“Pass-through” describes how certain business income is reported for federal income tax. It does not mean every LLC follows the same tax rules: the result depends on its owners and any valid tax election. Read more >

An LLC member is an owner of a limited liability company. The IRS overview of LLC members says owners may be individuals or organizations and federal law sets no maximum number of members, although state rules and business restrictions can limit who may participate.A member is not automatically the person who runs the business or receives a paycheck. State law and the company’s governing... Read more >

Divorce can affect the value, ownership and control of an LLC interest. The result depends on state family-property law, how the interest was acquired, the operating agreement and any enforceable marital agreement.Coordinate family-law and business advice before agreeing to a transfer, buyout or management change. Our online legal-service overview can help compare service options, but a general... Read more >

A Delaware Series LLC is a single LLC that holds multiple independent series — each with its own assets, liabilities, and members. To form one, you file a single Certificate of Formation with the Delaware Secretary of State, pay a $90 filing fee, and set up a separate operating agreement and bank account for each series. I've helped over 25 clients structure their businesses this way over the... Read more >

An LLC owner is legally called a member. A single-member LLC has one owner, and an LLC may have multiple members, as the IRS’s LLC guidance explains. The word “manager” describes authority to run a manager-managed LLC, not ownership by itself. A CEO or president title also does not automatically make someone an owner or authorized signer; check the operating agreement, state filing, and... Read more >

You dissolve an LLC in South Carolina by filing the Articles of Termination form, and the filing fee is just $10. This guide walks through voluntary dissolution for a domestic South Carolina LLC you formed inside the state. Members agree to close the business, wind down its affairs and file the paperwork that ends its legal existence. A foreign LLC works differently. One registered to do... Read more >

Leaving a multi-member LLC usually depends on its operating agreement and state law. Start by identifying whether the agreement permits a withdrawal, transfer or buyout, and what approvals the route requires.An LLC with several owners differs from a general partnership, even when people call their arrangement a partnership. Check the LLC and partnership distinction before assuming a resignation... Read more >

To start an LLC in West Virginia, you file Articles of Organization with the Secretary of State. The form is called Form LLD-1, and the fee is $100. Step 2 holds West Virginia's biggest quirk: a registered agent is optional, not required. Every LLC still owes a $25 annual report by July 1. This guide walks you through forming a new LLC in West Virginia, from picking a name to what happens after... Read more >

An LLC name identifies a legal entity in state records; a trademark identifies the source of particular goods or services. The same words can serve both purposes, but state acceptance of an LLC name does not register a trademark or clear a brand for use. Before forming the LLC or launching the brand, check the state's entity-name rules and search for similar marks used with related goods or... Read more >

Dissolving an Iowa LLC takes two separate filings with the Secretary of State. You start with a $5 Statement of Dissolution, which posts instantly online through Fast Track Filing with no state review. Once you've paid debts and split what's left, you file a second $5 Statement of Termination to close it for good. That filing doesn't carry a tax-clearance certificate requirement, either. This... Read more >

New York charges $200 to file the Articles of Organization. That one filing creates the LLC. A separate $50 fee covers the Certificate of Publication. The publication rule is the part that catches people off guard. State law makes every new LLC print a notice in two newspapers for six weeks straight, and each paper sets its own price. Budget $400 to $800 total in many upstate counties. Budget... Read more >

Changing the ownership percentage of an LLC changes the rights tied to a member’s interest. First determine whether an existing member is transferring part of an interest, the LLC is issuing a new interest, or the LLC is redeeming an existing one.Each route can require different approvals, documents, and tax reporting. Check the operating agreement and governing state law before setting a... Read more >