Washington US State
Limited Liability Company
Advantages and Disadvantages
A Washington LLC offers business entrepreneurs the form of corporate organization that provides perhaps the most flexibility to you. An LLC formation, like the alternative corporate forms of organization like a limited partnership or a Subchapter S Corporation, are generally prime candidates for a just starting business. The state of Washington gives public support to a Washington LLC.
A Washington LLC satisfies a necessary condition of your business planning development in that it meets the requirement that you establish a legal form of organization in order to gain the statutory benefits and protection available in Washington to your LLC. Your Washington LLC establishes a legal presence within the state, which you can use either as a platform for in-state operations or by registering your Washington LLC via your agent’s physical address in order to meet the purely statutory requirement for tax and filing purposes absent an in state operation.
Advantages of LLC
Limited Liability Company
Owners of a LLC have the limited liability protection of a corporation.
Flexible Profit Distribution
Limited liability companies can select varying forms of distribution of profits. Unlike a common partnership where the split is 50-50, LLC have much more flexibility.
Corporations are required to keep formal minutes, have meetings, and record resolutions. The LLC business structure requires no corporate minutes or resolutions and is easier to operate.
All your business losses, profits, and expenses flow through the company to the individual members. You avoid the double taxation of paying corporate tax and individual tax. Usually, this will be a tax advantage, but circumstances can favor a corporate tax structure.
Disadvantages of LLC
Corporations can live forever, whereas a LLC is dissolved when a member dies or undergoes bankruptcy.
Business owners with plans to take their company public, or issuing employee shares in the future, may be best served by choosing a corporate business structure.
Running a sole-proprietorship or partnership will have less paperwork and complexity. A LLC may federally be classified as a sole-proprietorship, partnership, or corporation for tax purposes. Classification can be selected or a default may apply.
By Washington and other state law in order to proceed with forming a llc, you need to prepare a written abstract detailing your llc purpose, the names of your initial Washington LLC members, the name and address of your Washington registered agent, the details of which will be introduced into the body of your LLC operating agreement and related Washington LLC formation documents assembled for application to the state of Washington.
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Our Company Services
Services we DO and Services we DO NOT DO
Our company is EXCLUSIVELY engaged in assisting worldwide clients, either individuals or corporate entities, to get duly and properly registered and licensed with local Regulators and Financial Authorities to get respective official licenses to legally carry out their cryptocurrency business activities.