The application required for incorporating as a Limited Liability Company (LLC) is called the Articles of Incorporation (also referred to as a Certificate of Incorporation). This document contains basic information about the company, its owners, and its directors. Depending on your state of incorporation, there may also be state-level fees or taxes that must be paid.
When the dissolution filing becomes effective, the business may not carry out any activities except those appropriate to wind up and liquidate its affairs. You also must file the appropriate dissolution forms with the Department of Revenue, Department of Workforce Development and the Attorney General in order to avoid tax consequences and additional liabilities.
Bennett is a B2B editorial assistant based in New York City. He graduated from James Madison University in 2018 with a degree in business management. During his time in Harrisonburg, he worked extensively with The Breeze, JMU's student-run newspaper. Bennett also worked at the Shenandoah Valley SBDC, where he helped small businesses with a variety of needs ranging from social media marketing to business plan writing.
A business entity is an entity that is formed and administered as per corporate law in order to engage in business activities, charitable work, or other activities allowable. Most often, business entities are formed to sell a product or a service.[citation needed] There are many types of business entities defined in the legal systems of various countries. These include corporations, cooperatives, partnerships, sole traders, limited liability companies and other specifically permitted and labelled types of entities. The specific rules vary by country and by state or province. Some of these types are listed below, by country. For guidance, approximate equivalents in the company law of English-speaking countries are given in most cases, for example:
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