Connecticut Clauses Relating to Initial Capital contributions
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How to fill out Clauses Relating To Initial Capital Contributions?
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FAQ
A limited liability company (LLC) is a business structure in the U.S. that protects its owners from personal responsibility for its debts or liabilities. Limited liability companies are hybrid entities that combine the characteristics of a corporation with those of a partnership or sole proprietorship.
Limited Liability Company (Domestic & Foreign)
Section 33-920. - Authority to transact business required. (a) A foreign corporation, other than an insurance, surety or indemnity company, may not transact business in this state until it obtains a certificate of authority from the Secretary of the State.
Certain modifications under California law. Idaho, Iowa, Nebraska and Wyoming have already adopted RULLCA.
Owners of LLCs enjoy limited liability protection. You do not have to maintain minutes of meetings or resolutions. You can select various ways of distributing the profits of the company. You can benefit from pass-through taxation, which prevents double taxation.
Do you need an operating agreement in Connecticut? No, it's not legally required in Connecticut under § 34-243d. Single-member LLCs need an operating agreement to preserve their corporate veil and to prove ownership.
Connecticut LLC Cost. Connecticut's state fee for LLC formation is $120. Connecticut LLCs also need to file an annual report every year, which costs $80. Depending on your industry and business needs, you might have additional expenses, such as licensing fees, business insurance, and registered agent fees.
LLCs taxed as C-Corp When filing as a C-Corp, your LLC will need to pay the 21% federal corporate income tax rate along with the 7.5% Connecticut corporate tax rate.