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How do you set up a limited liability company in Missouri?

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Answered 2008-01-10 03:03:32

A Missouri limited liability company is formed by filing Articles of Organization with the Missouri Secretary of State.

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What does PLLC stand for?

A PLLC is a Professional Limited Liability Company. It is a limited liability company that is set up to provide professional services to one or more people and to allow them to be taxed differently.

Is a limited liability company necessary for a small business?

If you just so happen to own your very own small business, you do not necessarily have to set up a limited liability company. It is not legally required.

How can someone set up a private limited company?

You can set up a private limited company by registering your company by form IN01. Alternatively, you can use an agent and have them register it for you.

Should I be concerned if my dentist has llc after his name?

"LLC" or "llc" means "limited liability company". It is applied to a virtual person a "company or business". Say you dentist was called "Jones" then he could set up a company called "Jones dental practice" and if his practice was set up as a limited liability company, "llc" should be add after the name of the practice. However if your dentist is using "llc" after their name as a qualification, this is meaningless and if your dentist has no other qualifications then I would suggest you should be concerned - do not go there and ask the authorities in your country to investigate the dentist.

Is a married woman that is a gifted member of a Limited Liability Company at risk of losing interest when filing bankruptcy in a community property state?

If it has value, and can be transferred or liquadated with that value used to pay those who are owed money in the BK, I can't see why it wouldn't be. Nor why it shouldn't be. Limited Liability Companies are set up to limit liability in these situations similar to a corporation. If you are in bankruptcy or sued, generally creditors cannot take assets of the LLC if you are a limited member.

What does the legal structure of business mean?

Its when you decide what your business is going to be about and what products your going to sell! It means a partnership, public company, or a private company structure.

What is a private limited company?

A limited company in the United Kingdom is a corporation whose liability is limited by law. There are three main types of limited companies which are set up by the Memorandum of Association & Articles of Association:private company limited by shares (Ltd.)Similar to Pty. Ltd.private company limited by guaranteeThis type of company does not have share capital but is guaranteed by its "members", who agree to pay a fixed amount in the event of the company's liquidation. Frequently charities incorporate using this form of limited liability. Another interesting example is the Financial Services Authority.public limited company (PLC).Public limited companies can be publicly traded on a stock exchange (similar to the U.S. Corporation and the German AG). A shareholder in a limited company, in the event of its becoming insolvent (equivalent to bankruptcy in the US) would be liable to contribute the amount remaining unpaid on the shares (usually zero, as most shares are issued fully paid). 'Paid' here relates to the amount paid to the company for the shares on first issue, and not to be confused with amounts paid by one shareholder to another to transfer ownership of shares between them. A shareholder is thus afforded limited liability.A limited company can be registered in England and Wales, Scotland or Northern Ireland. The registration of companies in Great Britain (England, Scotland and Wales) is done through Companies House. The registration of companies in Northern Ireland is done through the Department of Enterprise, Trade and Investment.

Compare a sole trader with a franchise?

Sole trader - where a business is set up by one person Advantages: Has their own say Makes their own decisions. Disadvantages: Unlimited liability - have to pay everything yourself if you lose money. Franchise - where you buy into an existing company e.g. Mcdonalds Advantages: You are part of a well-known company Limited liability - if you lose monet, you only lose what you put in. The company you have bought into will provide the money

How do you set up a company as limited or LTD?

The first step to setting up a company as a Limited or LTD., is to file incorporation papers in the state the company wishes to do business or operate its headquarters in. Once incorporated, the company should register with the proper tax authority as a limited or LTD. organization.

How Oil India limited companies corporations are set up?

Indian Oil Corporation Limited company is set up as a state-owned oil and gas corporation. As of 2012, the company ranks as the world's 83rd largest public corporation.

What does unlimited liability mean to the owner of a business?

The owner has personal liability for anything that happens. That is whi it is good to have an LLC (limited liability corporation). Mine cost $60 to set up on the state's web site. If a customer is killed in my shop all I can lose is the business, not my home.

Is a swing set in a trailer park swing an insurance liability?

Depending on the type of insurance that the management company has on structures of that nature. Consult your local insurance company for further information.

Four Kinds of Partnership?

General partnerships are the most common and basic, where all partners are liable for all contracts and torts of the partnership. Limited partners can accompany a general partnership and are liable only to the extent of their contributions to the company. An Limited Liability Corp (LLC) is available as a replacement to a general partnership that restricts liability to a partner. Many states offer this option to businesses, but it is a newer set of regulations and open to more uncertainty. A Limited Liability Partnership (LLP) is reserved for practicing businesses such as accountants and lawyers The LLP is a good choice for these types of partnerships because they prevent liability to other partners when a single partner is sued for malpractice. Rules and regulations regarding an LLP are dictated by state laws and regulations.

The significance of the Missouri Compromise?

The Missouri Compromise set in motion the admission of Missouri into the Union.

How many people are needed as human resources to set up a small business?

Basically not more than 1 is required to set up a small business as they increase liability for the company, as company grow and become mature you can always keep 2-3 HRM.

Is it legal to carry a lock picking set in Missouri?

Yes, it's legal to carry a lock picking set in Missouri.

What is a Pty Ltd?

In South Africa you have either a public company or a private company (I wil ignore the other two for now).Private company nust include designation (Proprietary) Limited or (Pty) Ltd behind its name.Public company must include Limited or Ltd behind its name.In this format (at least in Australia) it is short for Proprietary Limited company.This is a private company. It is run by directors and owned by shareholders.Very simple business structure to set up.Do a search on "Proprietary Company" to get full response.

If you buy a car and have no auto insurance how long do you have to get insurance?

no coverage at all. Call an insurance company before hand and set up a binder policy at least for the liability.

Why are limited companies so popular?

The principal benefit of trading as a limited company has always been the limited liability of the company's officers and shareholders. As a sole trader or other non-limited business, personal assets can be at risk in the event of a failure of the business, but this is not the case for a limited company. As long as the business is operated legally and within the terms of the Companies Act, the personal assets of directors or shareholders are not at risk in the event of a winding up or receivership. Operating as a limited company often gives suppliers and customers a sense of confidence in a business. Larger organizations in particular will prefer not to deal with non-limited businesses. Also, many of the costs associated with managing and operating a limited company are not much more than with a non-limited business. There is no obligation for a limited company to commence trading within any set time period after its incorporation. This means that the formation of a limited company is one simple and low cost method to protect a business name. Whilst this does not in itself give any rights to use of the business name, many clients incorporate companies in anticipation of future development of new businesses or in order to protect the limited company name of an existing non-limited business for the future. No two limited companies can exist with exactly the same name. Directors pay income tax and the company pays corporation tax on company profits. With the current tax rates, company profits earned and retained in the business are assessed to corporation tax at lower rates than if income tax were payable on equivalent profits earned by an unincorporated business. If a limited company becomes insolvent and is wound up, only the assets of the company are used to try to clear its debts. The officers of the company have no personal liabilities, are not made bankrupt and can freely incorporate another company. Depending on the companies documents of formation and constitution. There is also another form of company known as a Limited Company by Gurantee. This type of company provides in its founding documents, that any liability of the shareholders is normally limited to a nominal value such as a £1. This type of company is usually set up as a 'not for profit' company, were no profit is made, just enough to pay the company's debts. This form of company is used by groups of people who do not wish the burden of or who's enterprise will not be satisififed to be registered as a charity however, this does not prevent such a company from being a charity as well. Normally this can be with a llimited company without shares. The shareholders are liable only to the extent of any unpaid shares held. By contrast, if you trade as a sole trader, partner or partnership, your income will be taxed as proprietors' income, regardless of how much profit is retained as working capital. Interest on loans to the business is also taxed as income. Furthermore, partners are personally and jointly liable for partnership tax and if a partner dies, the surviving partners are responsible for partnership tax. Creditors can claim all your property to satisfy debts, and if this is insufficient, you may be declared bankrupt. An undercharged bankrupt is forbidden to start another business or to become a director of a limited company. The governing law in the UK for companies is the Companies Act 1985 and the Companies Act 2006, along with other acts and SI's.

How do you set up a partnership to buy and sell stocks?

I would suggest an LLC (limited liability company). This type of company has become very popular in recent years due to certain advantages. LLC's provide you with the benefits of a corporation, that is limited liability, without the double taxation that a normal corp. would incur. So, you could set up your LLC as an investment company, without having to risk your nestegg. This is definitely win-win. The details of setup should definitely be set up with a good financial attorney, but does not have to be in your home state. Delaware offers some definite advantages and is quite inexpensive. Wyhoming is also worth looking into. I personally use Delaware. You can find more info on the web. Happy investing, and I don't think the latest ride is going to last, the price of fuel is rising too rapidly. I would sell the market short.

Is there a number of accidents for a certain length of time where an insurance company will drop you?

All insurance companies are different with their own set of rules in regard to when you are more of liability and they decide to drop you. Check with your own insurance company for a more specific answer.

In a business partnership can my business partner be held responsible for all the debts of the business?

That depends on the laws of the country in which the business is set up and if the company is private or limited liability. If private then the answer is likely to be yes because the partners will be jointly and severally liable for the debts, the creditors will come after all partners but will seek to recover their money from whichever partner they can.

Differences between pvtLtd and plc?

i think u got wrong about it. both terms stands for private limited company. (opposite of public limited company or LTD.)A private limited company is owned privately by a small group of people such as a family. They are not allowed to offer shares (in the company) to the general public and can operate through just one director. A private limited company can not trade its shares on the stock market. .Although private limited companies are usually small in size, they are expensive to set up and have to produce proper accounts. Furthermore unlike a sole trader, private limited companies have to pay auditors, hold meetings as stipulated in the Companies Act and share profits between all of the shareholders.

How can you get your company registard as a limited company?

Most accountants will form a limited company for you; however for those peoplewho intend to set up their own Limited Company, the following basic guide outlines the requirements for registering your company.Registering your Limited Company.Before your business can set up as a limited company (or become "incorporated") it needs to be registered with Companies House.You will need to complete the following documents and return them to Companies House to complete the incorporation process:Memorandum of Association - includes information on Company Name, Location and Type of Business.Articles of Association - These outlines the powers of the Directors and the rights of the shareholders, etcForm 10 - Provides details of the Directors' and Company Secretary's Names and Addresses, together with the Registered Company address,Form 12 - Simply states that the Company complies with the terms of the Companies Act.These documents are normally prepared by accountants or formation agents; however there is no legal requirement to use either. Guidance on all aspects of the registration process, including documentation required to complete the registration process can be found at the Companies House website.

What are similarities between public limited and private limited companies?

Both companies are incorporated, meaning that they have separate legal identies to the owners of the business, they also have limited liability, where shareholders will only lose the amount of money they invested into the business, if the business became bankrupt. To set up these companies you must sent two documents, a Memorandum of Association, giving the name, address and objectives of the business, along with an Article of Association, describing the internal rules of the company i.e. how it will be run. The final similarity is that both companies are owned by shareholders, therefore the more shares you own in these businesses, the more control you have of these businesses. The difference here is that in private limited companies, all existing shareholders must agree before any more shares in the business are sold, and in public limited companies, anyone can buy shares, if the company can find people who want to sell their shares for them.

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