History The LLC is a relatively new business form in the United States, although it has existed in other countries for some time. In 1988 the IRS issued a ruling that an LLC in Wyoming would be treated as a partnership for tax purposes. After the 1988 IRS ruling, nearly every state in the United States enacted an LLC statute, and the LLC is now a widely recognized business form. Many legal issues concerning the LLC are still developing. Persons form an LLC by filing required documents with the appropriate state authority, usually the secretary of state.
Most states require the filing of articles of organization.
These are considered public documents and are similar to articles of incorporation, which establish a corporation as a legal entity. The LLC usually comes into existence on the same day the articles of organization are filed and a filing fee is paid to the secretary of state. The minimum information required for the articles of organization varies from state to state. Generally, it includes the name of the LLC, the name of the person organizing the LLC, the duration of the LLC, and the name of the LLC's registered agent. Some states require additional information, such as the LLC's business purpose and details about the LLC's membership and management structure.