One of the first decisions you will need to make when you start a business is how your company will be formed. There are various options to consider, such as sole proprietor, partnership, LLC, or corporation. The North Carolina Limited Liability Company Act (General Statutes Chapter 57D) covers the provisions under which you can start a business as an LLC. This act covers general provisions, formation documents, membership and management, contributions and distributions, transfer of ownership interest and withdrawal, dissolution, derivative actions, conversion and merger, and miscellaneous provisions.
It is easy to see why it is best to work with a business law attorney when you start a business and want to know more about formation either as an LLC or another formation. They can be an invaluable resource for information and legal advice, as well as preparing the documents that you’ll need to file with the North Carolina Secretary of State and others, such as articles of organization, amendment of articles, and annual reports. They’ll also help you avoid various penalties that can occur if you were to make a misstep by trying to handle this on your own, such as penalties imposed if you failed to answer interrogatories by the Secretary of State.
If you are planning to start a business in North Carolina and would like to know more about business formation, such as an LLC, give us a call at Tarantino Law, PLLC. We handle a variety of business law cases, including business sales and mergers and business negotiations, in addition to services related to starting a business. Call today to schedule a consultation.