Tag: LLC

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Small Business

How to Keep Your California LLC in Good Standing

Creating a California LLC is an effective way to help you avoid personal liability for your company’s debts and other obligations. However, bear in mind that forming the business is only the first step in the process. There are ongoing requirements that you must follow. 

Now, failing to follow these rules may lead to your LLC being suspended or even dissolved by the state. This means that you would no longer be considered in “good standing”, which can have negative consequences for your business.

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Small Business

Do I Need an Operating Agreement for My California LLC?

If you’ve recently formed an LLC, you should congratulate yourself on completing the important first step of choosing a business structure. However, keep in mind that there are additional items that should be on your checklist as part of the formation process. One of these is the operating agreement.

Note that California is one of the few states that legally requires LLCs to have an operating agreement. But, there are a number of benefits these documents provide even if you live in a location where they are not mandated by law. 

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Categories
Small Business

Why Should I Care About Limiting Liability?

As a business owner, your focus is likely on how to make sure things go right. However, sometimes the unexpected happens, so it can be helpful to have certain protections in place to make sure that your organization not only survives but thrives.

That said, you may have come across the term “limiting liability” and wondered how this relates to your business. Generally speaking, liability refers to the person or entity that is responsible for a debt. 

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