What
is a Georgia LLC? A
Georgia LLC is a legal vehicle that is created and recognized under
Georgia law. The Georgia Limited Liability Company Act was
adopted in 1993 and gave birth to the Georgia LLC. The
essential benefit of forming an LLC in Georgia is that it provides its owners
with limited liability protection similar to the protection afforded
by a Georgia corporation (another legal vehicle) but allows Georgia
LLC owners to set up a much more simple business entity and avail
themselves of more tax flexibility.
Generally, a person who is a member of a Georgia LLC is not liable.
solely by reason of being a member, under a judgment, decree or
order of a court, or any other manner, for a debt, obligation, or
liability of that Georgia LLC, whether arising in contract, trot or
otherwise, or for the acts or omissions or any other member,
manager, agent or employee. Georgia LLC Act. Section
14-11-303. This is the general liability protection law in Georgia.
There are some exceptions. In our eBook (which is given as a
free bonus with our Georgia LLC Formation Services), we provide
information about how to best preserve this LLC protection.
Under the Georgia LLC laws, one may form an LLC in Georgia for "any lawful purpose" but, depending on what business
activity you intend on conducting, you should always check to see if
other non-LLC laws may affect your ability to use an LLC for your
business.
Ownership in a Georgia LLC is established by the
issuance of a limited liability interest to a person or entity who
becomes a member of the Georgia LLC. Traditionally, this
limited liability interest provides a member with certain economic
rights to the profits of the Georgia LLC and certain voting rights
when it comes to managing the Georgia LLC business. However, a
benefit of an LLC, is that the members can determine the specific
rights that a member will be in an LLC.
The Georgia LLC is a popular entity of choice for
many types of business activities including real estate ownership
entities, start up entities, professional services entities, small
business, health care entities and investment vehicles.
Georgia Business Formation offers the fastest
turnaround to
form a Georgia LLC which for a
limited time includes an excellent eBook to teach you about what to
do after formation to preserve limited liability protection.
