Are you considering forming a limited liability company (LLC) in Kennewick, Washington? Elevated Estate Planning, P.S. can help when you call (509) 328-2150. We offer no-obligation consultation with a Kennewick limited liability company lawyer.
By forming an LLC, you can protect yourself while serving your customers or clients and building a profitable, legally sound business.
Why Choose Elevated Estate Planning, P.S. For Help With My LLC?
Starting a new business is about more than just filing paperwork—it’s about laying a strong legal foundation that protects your hard work and supports future growth. At Elevated Estate Planning, P.S., we help entrepreneurs in Kennewick, WA, launch and manage their businesses with clarity and confidence.
Here’s why business owners trust our team for LLC formation and planning:
- Over 25 years of combined experience in Washington business and entity formation law
- Deep understanding of LLC structuring, operating agreements, and liability protection
- Guidance tailored to sole proprietors, partnerships, and multi-member LLCs
- Advice on tax treatment, compliance requirements, and succession planning
Contact our office today to schedule a free consultation with an experienced Kennewick estate planning attorney and start your business.
What is an LLC?
A limited liability company (LLC) is a type of business structure that combines the simplicity of a sole proprietorship or partnership with some of the legal protections of a corporation. It allows one or more individuals to operate a business under a formal entity, with fewer administrative burdens than a traditional corporation.
In Washington, LLCs are popular among startups, family-run businesses, and independent professionals due to their flexibility and protection.
Benefits of an LLC
Choosing the right business structure is one of the most important decisions you’ll make as a business owner. For many entrepreneurs in Washington, a limited liability company (LLC) offers the ideal balance of legal protection, flexibility, and simplicity.
Below are some of the key advantages that make LLCs a popular option for new and growing businesses.
Protection from Personal Liability
One of the main benefits of establishing an LLC is that it will separate all of your personal assets from the company. This protection extends to your vehicle, your home, and savings if your business ever defaults on a loan or is the subject of a lawsuit.
The only exception to this is that you sign a personal guarantee for business financing. If you have signed such a guarantee, creditors can hold you personally liable for paying your business’s debt.
Easy to Establish and Affordable
Forming an LLC is relatively inexpensive, as the cost usually hovers around $1,000. They are also relatively easy to establish and require minimal paperwork. You must also file articles of organization and an operating agreement, which details the ownership structure of the new business.
LLCs do not have to file an annual report every year nor must they hold a yearly shareholders meeting. LLCs may have to comply with the new Corporate Transparency Act.
Flexible Profit Division
Members of an LLC can also determine how to share profits among themselves. This is different from a general partnership in which profits are divided equally among all partners. With an LLC, the division of profits is outlined in the operating agreement. If one member contributes more sweat equity or invests more of their own money upfront, the agreement could stipulate that they are to receive a larger share of the profits.
LLCs also do not cap, or limit, the number of owners that can be part of the company. Unlike a corporation, LLCs are not required to maintain a set of officers or a governing board of directors.
Flexible Taxation Options
Establishing an LLC provides you with multiple options on how you want to be taxed. Unless you choose for your company to be taxed as a C corp, you will not have to pay corporate taxes. Instead, profits are passed to the owners as their personal income.
This process is known as pass-through taxation, and can help you avoid being taxed twice – once at the personal level and once at the corporate level.
Appropriate for Sole Owners
LLCs can be multi-member companies, but that does not always have to be the case. Individuals can also reap the benefits of forming an LLC to shield themselves from personal liability and to take advantage of the flexible tax options.
Do I Need a Lawyer To Start My LLC?
While you can form an LLC on your own, doing so without legal guidance can lead to costly mistakes. Even small oversights during setup can create problems later, especially when it comes to liability protection, compliance, or working with partners.
Here’s why many business owners choose to work with a lawyer during LLC formation:
- Avoiding legal mistakes: Errors in your Articles of Organization or Operating Agreement can weaken your personal liability protection.
- Ensuring compliance: A lawyer can make sure your LLC meets Washington’s legal requirements and follows federal rules like the Corporate Transparency Act.
- Customized operating agreement: Legal guidance helps ensure your agreement includes essential clauses tailored to your business’s needs.
- Clarity for multi-member LLCs: If your business has multiple owners or outside investors, a lawyer can help define each member’s roles, rights, and responsibilities.
- Asset protection strategies: Legal support is crucial if you’re forming an LLC to shield specific personal or business assets.
Forming an LLC without legal help is possible, but it’s not always wise. Working with a knowledgeable attorney gives you peace of mind and a solid foundation for long-term success.
Our Kennewick LLC Attorneys Can Help You Form Your Business
If you are about to start a business in Kennewick, WA, Elevated Estate Planning, P.S. can help with the formation so that you and your company are protected. Call us now or fill out our online form to schedule an appointment with a Kennewick limited liability company lawyer and to learn more about how we can help.