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Those add-on LLC required documents could include: Details on any business collateral : If you’re applying for a secured loan, you’ll need to provide documentation about the collateral you ...
An operating agreement (if your business is an LLC) Information about your business name and registration. Ownership structure. Franchise information, if this applies. License and/or permit ...
Banks and credit unions often require at least two years in business, minimum annual revenue requirements often top $100,000, and you’ll likely need a credit score of 670 or higher to qualify.
In certain U.S. states (for example, Texas), businesses that provide professional services requiring a state professional license, such as legal or medical services, may not be allowed to form an LLC but may be required to form a similar entity called a professional limited liability company (PLLC). [4]
As in a partnership or Limited liability company (LLC), the profits of a Limited liability partnership (LLP) are allocated among the partners for tax purposes, avoiding the problem of "double taxation" often found in corporations. Some US states have combined the LP and LLP forms to create limited liability limited partnerships.
The Uniform Limited Liability Company Act (ULLCA), which includes a 2006 revision called the Revised Uniform Limited Liability Company Act, is a uniform act (similar to a model statute), proposed by the National Conference of Commissioners on Uniform State Laws ("NCCUSL") for the governance of limited liability companies (often called LLCs) by U.S. states.
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