Form Louisiana LLC- Limited Liability Company
Form Louisiana LLC
A Louisiana LLC is recognized as a legal organization by all fifty states. The application to create a state LLC in Louisiana meets the preliminary legal requirement for establishing your Limited Liability Company within the state. The LLC in Louisiana is known for its simplicity and highest degree of flexibility.
Quick Facts about Forming an Louisiana Limited Liability Company
- The initial fee to file an LLC in Louisiana is $75
- The processing time is 3 to 5 business days.
- The owner of a Limited Liability Company can choose varying forms of sharing of profits, giving you much more flexibility.
- The profit, loss and expenses of your organization flow through the LLC to the members and the owner has the opportunity to avoid double taxation.
Apart from these opportunities and flexibilities, an LLC in Louisiana also faces some drawbacks like doing a lot of paperwork (such as forming articles of organization, member certificates, operational agreement, bylaws etc.) compared to a sole-proprietorship or a partnership business.
Based on the tax principles, an LLC can also be treated as a partnership, corporation or a sole-proprietorship business. This will increase complexities and may hinder business. The LLC will also be considered a closed business in Louisiana if the owner dies or the organization goes bankrupt.