What does it mean to be Properly Formed?
A company that is properly formed will have limited liability. An LLC is properly formed when its articles are accepted by the NC Secretary of State. It has very few formal requirements, and that is one reason some people prefer to operate an LLC, rather than a corporation. You will need a federal tax id number and state tax accounts to operate, but those are not formation requirements. It is not required, but highly recommended, for an LLC to have an operating agreement. A
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