For Kansas LLC prices and State fees, please visit the costs page for forming an LLC in Kansas.
Kansas LLC Formation has fewer formalities than a corporation, in some cases. One of the statutes for corporations is, by law, the corporate shareholders have to meet at least annually and meeting minutes need to be documented. The Kansas Limited Liability Company operating agreement can provide a provision for annual meetings of the owners, or lack thereof. Kansas LLC is not required, by law, to hold meetings of the interest holders, however it is a good practice in order to maintain the protection provided against liability as required by officers and directors. To find out more about Kansas LLC’s, contact Companies Incorporated at (800) 830-1055.
Forming a Kansas LLC or Corporation creates a separate legal entity from those who own it. This is a big liability shield that can protect the assets of the company shareholders. In order to maximize this protective shield, the Kansas Limited Liability Company must be operated correctly and observe some formalities that separate the business from the owners. If this is not done correctly, a court or the IRS could easily disregard the corporate structure (i.e. "Piercing the Corporate Veil") and when this happens, the assets of the owners are at risk. For more information on Kansas llc formation, call Companies Incorporated at (800) 830-1055.
A Kansas LLC is a "pass through" tax entity. This means that the profit and losses of the company are passed on to those who own it and reported on their personal tax filings / returns. The Kansas Limited Liability Company does not pay business taxes at the company level, any tax due is paid at the individual level of the owners. Kansas llc formation has tax advantages that include the option to have the company taxed as a corporation, otherwise it is taxed as a partnership or sole proprietorship, however the need to file itemized business deductions, or a schedule K-1, is unnecessary. For more information on Limited Liability Companies, call Companies Incorporated at (800) 830-1055.