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Llc Limited Liability Form

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Instructions and help about Llc Limited Liability

when running a business if you haven't taken the steps to create a formal business structure you'll be an informal business type like a sole proprietorship by default after your business reaches a certain point it may be beneficial to create a formal business structure such as an llc in this video we will go over benefits of a formal business structure over an informal business structure when you should become an llc and the steps to transitioning into an llc part one business structures there are two types of business structures informal and formal by default if you start doing business without filing any formation documents you will be an informal business if you are running the business on your own you'll be classified as a sole proprietorship if you are doing business with one or more partners then you will be classified as a partnership informal business structures can be a good way to start out if you are doing business on a small scale or want to try out

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