In South Dakota, a limited liability company (LLC) is a legal structure that provides the limited liability features of a corporation and the tax efficiencies and operational flexibility of a partnership.
Here are five practical tips for establishing a LLC in South Dakota:
- Creating a LLC includes the filing of articles of organization and the drafting of an operating agreement
- Creating a LLC will limit your personal liability
- Creating a LLC helps clarify ownership and makes accounting easier
- Creating a LlC simplifies business transfer and succession planning
- Creating a LLC allows for beneficial tax considerations