What Is LLC

Table of contents:

What Is LLC
What Is LLC

Video: What Is LLC

Video: What Is LLC
Video: What is an LLC ? - Limited Liability Company 2024, April
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LLC is a limited liability company that can be organized by individuals or legal entities. The members of the company are liable only for their part of the authorized capital. LLC is a commercial organization. Its main goal is to generate profit, which is distributed among the participants.

What is LLC
What is LLC

Instructions

Step 1

A limited liability company is an organization that is created by one or more persons. Its uniqueness is the presence of the authorized capital, the sizes and shares of which are divided between the participants as indicated in the constituent documents. The participants of such a firm are liable for the risk that may arise in the process of financial and economic detailing, only within the limits of the size of their parts of the authorized capital. They do not personally meet the requirements that arose in the process of working with the LLC.

Step 2

The company is considered open and can start its activities after official registration with the tax service. The procedure for registration and liquidation of a company is spelled out in the Civil Code of the Russian Federation and the corresponding federal laws.

Step 3

The supreme governing body in an LLC is the general meeting of participants. Its responsibilities and capabilities are spelled out in the statutory documents. Thanks to this, participants can have a number of votes that is not proportional to the size of their parts. If necessary, a board of directors can be organized. Its role is completely determined by the internal documents of the company.

Step 4

The direct management of the company is carried out by the executive body. He acts on behalf of a specific community and protects its interests.

Step 5

The number of LLC participants cannot exceed 50 people. If this rule is violated, then the company within 12 months must be renamed into an open joint stock company with all the ensuing new obligations.

Step 6

A limited liability company must have a round seal. The name of the company and its location are written on it. If desired, stamps, forms, emblems and trademarks are developed.

Step 7

The company can engage in any activity that does not contradict the law. Sometimes you need a license to work properly. In cases where, according to the law, the presence of such a state permit is mandatory, but for various reasons it is not, the activities of the LLC are recognized as illegal.