Limited Liability Companies
Buy and download the forms you need to set up a limited liability company.
What is a limited liability company?
A limited liability company (LLC) is a type of business structure that combines the liability protection of a corporation with the flexibility and tax benefits of a partnership or sole proprietorship.
Owners of an LLC, known as members, are generally not personally responsible for the company’s debts or liabilities.
What are the benefits of forming an LLC?
- Limited liability protection for members, which means personal assets are typically protected from business debts and lawsuits.
- Flexible management and ownership structure, allowing members to organize and run the company as they see fit.
- Pass-through taxation, so profits and losses can be reported on members’ personal tax returns, avoiding double taxation.
- Fewer formalities and less paperwork compared to corporations, making it easier to maintain compliance.
What are the drawbacks of an LLC?
- LLCs may be subject to self-employment taxes, which can increase tax liability for some members.
- Some jurisdictions impose annual fees or franchise taxes on LLCs, which may add to ongoing costs.
- Limited ability to raise capital, as LLCs cannot issue shares of stock the way corporations can.
- Varying rules and regulations by jurisdiction, which can complicate cross-border operations.
What forms are required to set up a limited liability company?
To establish a limited liability company, you will need to prepare and complete several important documents. These forms are designed to facilitate the proper formation, organization, and operation of your LLC.
- Articles of Organization: This document is required to officially register your LLC with the appropriate state authorities.
- LLC Bylaws: These outline the internal rules and procedures for managing the LLC.
- LLC Formation and Operating Agreements: These agreements specify the ownership structure and operational guidelines for the company.
- Member Resolutions: These forms are used for documenting key decisions made by the members of the LLC.
Using These Templates
Our Limited Liability Company Forms are downloadable, fully editable and reusable legal form templates that include prompts and instructions to walk you through the completion process.
These forms were not generated by AI. They have been written and reviewed by legal professionals.
Transfer of LLC Membership Interest | USA
This Transfer of Membership Interest form should be attached as an addendum to the original LLC Operating Agreement for a USA limited liability company.
Purpose of Transfer of Interest
The Transfer addendum sets out the rules which will govern how a membership interest can be transferred from a departing or deceased member of the LLC to a related party (spouses or family members) or to a non-related party.
Key Provisions
The Transfer of Interest addendum covers the following procedures:
- permitted transfers to related parties;
- voluntary transfers to non-related parties;
- involuntary transfers to related and non-related parties;
- method of determining purchase value;
- payment of purchase value;
- admission of new members.
Format and Jurisdiction
The Transfer of LLC Membership Interest form is a downloadable MS Word document that is fully editable to fit your specific circumstances. It is intended to be used only for limited liability companies formed in the United States.
