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Many states have an initial filing fee along with an annual fee and annual report filing requirement necessary for an L3C to maintain its legal status. Following filing, the members of the L3C must execute a formal operating agreement. In the operating agreement, L3Cs need to define its purpose per the provisions of IRS Treasury Regs.Sec.53. ...
Kansas businesses will see a positive change when submitting required filings with the Secretary of State’s office in 2024. During the 2021 Kansas legislative session, my office introduced a ...
A limited liability company (LLC) is the United States-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation . [ 1 ]
The department, as the Department of Commerce, was formed in 1965 by Section 225 of the Executive Organization Act of 1965, 1965 PA 380, MCL 16.325. The Michigan Department of Licensing and Regulation was abolished with most responsibilities transferred to the newly formed Department. [1]
A series limited liability company, commonly known as a series LLC, protected cell company, segregated account company, or segregated portfolio company, and sometimes abbreviated as SLLC, is a form of a limited liability company that provides liability protection across multiple "series" each of which is theoretically protected from liabilities arising from the other series.
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