A Limited Liability Corporation is a particular form of business formed to give limited liability to the owners of the corporation, while allowing them to enjoy the other benefits of having a corporation. A Limited Liability Corporation must abide by some, but not all, of the corporate formalities that a C Corporation must abide by. For example, a limited liability corporation can hold fewer meetings and have less formal record keeping than a c-corporation. Each state now has its own limited liability corporation statutes. Therefore, before forming a limited liability corporation it is wise to consult with an experienced attorney who knows the particular limited liability corporation statute in your state and can assist you in observing the required formalities and filing requirements to ensure that your limited liability corporation is properly filed and properly managed.

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