What can you tell me about starting a limited liability company?

Answer by  Advisor (1032)

You must file a charter with your home state according to their guidelines. You can obtain limited liabilty status for your corporation online at IRS. gov and search for "incorporate my business". Follow the steps to obtain a federal tax identification number then submit your articles of incorporation to your state for review.

Answer by  Easyrider (43)

You will have to be registered and incorporated as an insurance company in your state. Your state requires that you must have 20 million dollars in reserve at all times. There for your first step in forming a liability company will be get enough investors interested in the venture so you can start.

Answer by  Rubberchicken (819)

One can start limited liability company, otherwise known as an LLC, by drawing up articles of incorporation in the state of domicile, usually through the assistance of a corporate attorney. An LLC offers the owners protection of personal assets should the venture go bankrupt; however, an LLC does not offer the tax benefits of other corporate entities.