Limited Liability Company (LLC) FAQ

Questions:

• What is a limited liability company?
• How many people do I need to form an LLC?
• Who should form an LLC?
• How do I form an LLC?
• Do I need a lawyer to form an LLC?
• Does my LLC need an operating agreement?
• How are LLCs taxed?
• What are the differences between a limited liability company and a partnership?
• Can I convert my existing business to an LLC?
• Do I need to know about securities laws to set up an LLC?

Answer:

How many people do I need to form an LLC?

You can form an LLC in any state with just one owner. For more information on forming an LLC, see Nolo's article How to Form an LLC.