Necessary Information for Starting a Limited Liability Company (“LLC”) in CT
Created by the Connecticut Limited Liability Company Act (Chapter 613 of the Connecticut General Statutes), a limited liability company offers it’s members and/or managers a level of protection from the liabilities of doing business. The “limit” on liability is defined in CGS § 34-133 titled “Liability of members and managers to third parties”. In general, the liability of the members or managers is limited to the money already invested in the company.
Even with the obvious benefits of limited liability, the most common form of business organization is still the sole proprietorship, which offers absolutely nothing in the area of limiting owner liability for actions of the business. If you are starting a new business, you should seriously consider forming a Limited Liability Company.
What information is necessary to start a Limited Liability Company? We created a worksheet for our clients to help them provide us with all of the information we need for filing the Articles of Organization in the State of Connecticut. Click here to download our CT LLC Formation Worksheet. Please note the worksheet does not cover Agent for Service or the drafting of an Operating Agreement for multi member limited liability companies, both of which we handle on behalf of our clients.