Start a Free LLC in North Carolina
LLC Register forms your free North Carolina LLC, serves as your North Carolina registered agent and keeps your LLC in good standing. North Carolina charges $125 to file the Articles of Organization with the North Carolina Secretary of State.

North Carolina LLC
- North Carolina LLC Formation
- Free
- North Carolina LLC Name Search
- Free
- North Carolina Registered Agent
- $99 per year
- Annual Compliance
- Free
- North Carolina State Filing Fee
- $125
Transparent Cost Guide to Form a North Carolina LLC with LLC Register
Every fee, line by line. The state fee is passed through at cost; there is nothing else to add at checkout.
| Cost item | LLC Register fee | North Carolina state fee | Estimated total | One-time or annual |
|---|---|---|---|---|
North Carolina LLC name search | $0 | $0 | $0 | Free |
North Carolina LLC business name generator | $0 | $0 | $0 | Free |
North Carolina LLC formation (articles of organization) | $0 | $0 | $0 | Free |
North Carolina registered agent | $99 | $0 | $99 | Annual |
North Carolina LLC compliance (annual report) | $0 | $200 | $200 | Annual |
North Carolina state filing fee | $0 | $125 | $125 | One-time |
North Carolina LLC formation and annual compliance are included with the $99 annual registered agent service. You also pay the $125 state filing fee required by the North Carolina Secretary of State. That makes $224 in year one, and renewal is $99 per year, plus the $200 Annual Report fee paid to the state at cost.
Comprehensive 10-Step Guide to Form a North Carolina LLC
From the name search to your first annual report, in the order you will do them.
Step 1 — Choose a compliant North Carolina LLC name
Your North Carolina LLC name must include "limited liability company" or an abbreviation such as "LLC" or "L.L.C.". It must be distinguishable from other business names on file with the Secretary of State. Check that your name is available with the free North Carolina Secretary of State business name search before you file.
Name reservation: for $30 with Form BE-03; the reservation lasts 120 days
Step 2 — Select a registered agent in North Carolina
Every North Carolina LLC must name a registered agent to receive legal papers and state mail. Your registered agent's registered office must be a physical street address in North Carolina, a P.O. box is not accepted. The agent can be an individual North Carolina resident whose business office is that address, or an authorized entity with a business office there. LLC Register's North Carolina registered agent service is $99 a year and includes LLC formation and annual report filing.
Required by the North Carolina Limited Liability Company Act, N.C. Gen. Stat. Chapter 57D
Step 3 — Decide how the North Carolina LLC will be managed
Member-managed LLCs are run by their owners; manager-managed LLCs appoint managers to run the business. You choose the structure when you file the Articles of Organization and set the details in your operating agreement.
Member-managed or manager-managed
Step 4 — File the Articles of Organization with the North Carolina Secretary of State
Submit the Articles of Organization (Form L-01) and pay the $125 state filing fee. You can file online through the Secretary of State's business registration portal, or by mailing the paper Articles of Organization (Form L-01). Standard processing takes about 5–10 business days. Filing online is faster than mailing a paper form. Expedited filing is available for $100 extra (24-hour service) or $200 extra (same-day service if received by noon Eastern). We prepare and file it for you.
State fee: $125
Step 5 — Create an LLC operating agreement
North Carolina does not require an operating agreement, and you never file one with the state. The law recognizes written, oral or implied agreements among members. Ours is included and ready to sign.
Included with LLC Register
Step 6 — Obtain an EIN or FTIN
Get your federal Employer Identification Number from the IRS. It is free, and applying online gives you the number right away. You need it to hire employees, open a business bank account and file federal taxes; owners without a Social Security number apply with Form SS-4.
Free from the IRS · Form SS-4
Step 7 — Open a business banking account
Keep business and personal money apart to protect your limited liability. Banks usually ask for your filed Articles of Organization, your EIN and your operating agreement.
Bring your formation document, EIN and operating agreement
Step 8 — Register for North Carolina taxes, permits and licenses
If you sell taxable goods or services, register for a Certificate of Registration with the North Carolina Department of Revenue before you make your first sale. Before you hire, register for unemployment insurance with the Division of Employment Security, and for income tax withholding with the Department of Revenue. Check with your city and county for local business licenses.
Tax agency: North Carolina Department of Revenue
Step 9 — Consider other LLC documents
Such as a banking resolution, a Certificate of Existence ($12), or foreign qualification if you operate in other states. If you use a brand name other than your LLC's legal name, file a Assumed Business Name (Certificate of Assumed Name).
Certificate: $12 · DBA: fee set locally
Step 10 — Set reminders for annual compliance
North Carolina requires the Annual Report every year. It is due by April 15 every year after the year your LLC was formed. The first one is due by April 15 of the year after your LLC is formed. We track the deadline and file it on time while your agent service is active.
State fee: $200 · Annual
North Carolina LLC Formation Facts Table
The official numbers, names and links for a North Carolina LLC, each checked against the state agency.
North Carolina LLC filing agency | North Carolina Secretary of State, Business Registration Division |
|---|---|
North Carolina LLC formation document | Articles of Organization (Form L-01) |
North Carolina LLC filing fee | $125 |
Standard processing time | Standard processing takes about 5–10 business days. Filing online is faster than mailing a paper form. |
Expedited filing | Available for $100 extra (24-hour service) or $200 extra (same-day service if received by noon Eastern) |
North Carolina online LLC filing | sosnc.gov/online_filing/filing/creation |
North Carolina LLC name search | swyftfilings.com/business-name-generator |
Name reservation | Available for $30 with Form BE-03; the reservation lasts 120 days |
North Carolina registered agent required | Yes |
Registered agent address rule | Your registered agent's registered office must be a physical street address in North Carolina, a P.O. box is not accepted. The agent can be an individual North Carolina resident whose business office is that address, or an authorized entity with a business office there. |
Can you be your own registered agent | Yes |
North Carolina registered agent service | /registered-agent/north-carolina |
Annual or biennial filing | Annual Report, every year |
Annual report state fee | $200 |
First compliance deadline | By April 15 of the year after your LLC is formed |
Recurring due date | By April 15 every year after the year your LLC was formed |
Late filing penalty | There is no separate late fee, but missing the April 15 deadline by more than 60 days gives the Secretary of State grounds to administratively dissolve your LLC after notice and a further 60-day cure period. Reinstating costs a $100 fee plus $200 for every delinquent year's report. |
Annual Report filing | sosnc.gov/divisions/business_registration/annual_report |
Franchise or privilege tax | North Carolina's corporate franchise tax applies to C corporations, not to a default pass-through LLC. An LLC that elects corporate tax treatment becomes subject to it like any other corporation. |
State income tax on LLC profits | North Carolina taxes an LLC the way the IRS does by default, so profits pass through to the members' personal returns and are taxed at the state's flat individual income tax rate. An LLC that elects to be taxed as a corporation instead pays North Carolina's corporate income tax. |
Sales tax permit | Certificate of Registration (sales and use tax), issued by North Carolina Department of Revenue |
Operating agreement required by law | No |
Newspaper publication required | No |
Series LLC allowed | No |
Professional LLC (PLLC) allowed | Yes |
Certificate of good standing fee | $12 (Certificate of Existence) |
Foreign LLC registration fee | $250 (Application for Certificate of Authority (Form L-09)) |
Amendment fee | $50 (Articles of Amendment of Articles of Organization (Form L-17)) |
Dissolution fee | $30 (Articles of Dissolution (Form L-07)) |
DBA (assumed name) filing | Assumed Business Name (Certificate of Assumed Name), filed with the Register of Deeds in each county where the LLC does business, with a statewide search maintained by the Secretary of State; the fee is set locally |
North Carolina LLC law | ncleg.gov/Laws/GeneralStatuteSections/Chapter57D |
Free trademark search | trademarkengine.com/free-trademark-search |
Trademark registration | trademarkengine.com |
Virtual mailbox | snapmailbox.com |
Apply for an EIN (IRS) | irs.gov/businesses/small-businesses-self-employed/get-an-employer-identification-number |
Author: LLC RegisterLast reviewed 9/30/2026
North Carolina agency: North Carolina Secretary of StateLast reviewed 9/30/2026
Legal Requirements to Start a North Carolina LLC
What North Carolina law requires of every LLC, with the rule and the agency that enforces it.
A distinguishable LLC name
Your North Carolina LLC name must include "limited liability company" or an abbreviation such as "LLC" or "L.L.C.". It must be distinguishable from other business names on file with the Secretary of State. Search the name for free with the North Carolina business name search before you file. You can reserve a name for $30 with Form BE-03; the reservation lasts 120 days. The rules come from the North Carolina Limited Liability Company Act, N.C. Gen. Stat. Chapter 57D.
A North Carolina registered agent
Every North Carolina LLC must appoint and keep a registered agent in North Carolina. Your registered agent's registered office must be a physical street address in North Carolina, a P.O. box is not accepted. The agent can be an individual North Carolina resident whose business office is that address, or an authorized entity with a business office there. To change agents, file the BE-06 Statement of Change of Registered Office and/or Registered Agent ($5). LLC Register's North Carolina registered agent service is $99 a year and includes LLC formation and annual report filing.
The Articles of Organization
Your LLC exists once the North Carolina Secretary of State accepts your Articles of Organization (Form L-01) and the $125 filing fee. You can file online through the Secretary of State's business registration portal, or by mailing the paper Articles of Organization (Form L-01). Standard processing takes about 5–10 business days. Filing online is faster than mailing a paper form. Expedited filing is available for $100 extra (24-hour service) or $200 extra (same-day service if received by noon Eastern).
An operating agreement
North Carolina does not require an operating agreement, and you never file one with the state. The law recognizes written, oral or implied agreements among members. Even where it is optional, a written operating agreement sets ownership, voting, profit splits and what happens when a member leaves, and banks often ask for one.
Annual Report
North Carolina requires every LLC to file the Annual Report every year for $200. It is due by April 15 every year after the year your LLC was formed. The first one is due by April 15 of the year after your LLC is formed. There is no separate late fee, but missing the April 15 deadline by more than 60 days gives the Secretary of State grounds to administratively dissolve your LLC after notice and a further 60-day cure period. Reinstating costs a $100 fee plus $200 for every delinquent year's report.
State taxes and licenses
North Carolina's corporate franchise tax applies to C corporations, not to a default pass-through LLC. An LLC that elects corporate tax treatment becomes subject to it like any other corporation. North Carolina taxes an LLC the way the IRS does by default, so profits pass through to the members' personal returns and are taxed at the state's flat individual income tax rate. An LLC that elects to be taxed as a corporation instead pays North Carolina's corporate income tax. If you sell taxable goods or services, register for a Certificate of Registration with the North Carolina Department of Revenue before you make your first sale. See the North Carolina Department of Revenue for registrations.
North Carolina LLC Company Cost Comparison
Published prices for forming and keeping a North Carolina LLC, compared line by line.
| What you pay for | LLC Register | LegalZoom | ZenBusiness |
|---|---|---|---|
LLC formation service | $0 | $0 | $0 |
North Carolina filing fee | $125 | $125 | $125 |
Registered agent, first year | $99 | $249 | $99 |
Annual report filing | $0 | $99 | $100 |
First-year total | $99 + state fee | $249 + state fee | $99 + state fee |
Registered agent renewal | $99 per year | $249 per year | $199 per year |
Competitor prices are for each company's lowest-priced LLC package, as published on its own website on September 29, 2026. The North Carolina state fee is extra with every provider. Prices change; check each provider before you buy.
Why Form Your North Carolina LLC with LLC Register
One price, the whole bill up front, and your LLC kept in good standing every year.
$99 a year. That is the whole price.
The same $99 at renewal, every year. No tiers to compare and nothing pre-checked at checkout.
Formation included
We prepare and file your Articles of Organization with the North Carolina Secretary of State. You pay only the $125 state fee, at cost.
A North Carolina registered agent
A physical North Carolina address for legal and state mail, with scans sent to you the same day.
Your annual compliance, handled
We track the North Carolina deadlines and file your Annual Report on time while your agent service is active.
Every fee shown before you pay
The cost guide above is the bill. State fees are passed through at cost and never marked up.
Support by email
Real people answer your questions by email, before and after your North Carolina LLC is formed.
Important North Carolina LLC Resources and Links
Official North Carolina offices, forms and data in one place. Every link goes to the source.
State government offices
Filing, forms and records
- Online LLC filingsosnc.gov
- Business name searchsosnc.gov
- Articles of Organization (Form L-01) formsosnc.gov
- Certificate of Existencesosnc.gov
- Annual Report filingsosnc.gov
- DBA (Assumed Business Name (Certificate of Assumed Name))sosnc.gov
- North Carolina Limited Liability Company Act, N.C. Gen. Stat. Chapter 57Dncleg.gov
Taxes, permits and licenses
North Carolina business data and help
- Population and demographicsU.S. Census Bureau QuickFacts, North Carolina
- Small business statisticsSBA Office of Advocacy, 2025 state small business profiles
- North Carolina Small Business and Technology Development Center (SBTDC)sbtdc.org
- U.S. Small Business Administrationsba.gov
- SBA local assistanceFind SBA offices and advisors near you in North Carolina
North Carolina LLC FAQs
Short questions, direct answers about forming and running an LLC in North Carolina.
How much does it cost to start an LLC in North Carolina?
Per the North Carolina Secretary of State, as of September 2026, North Carolina charges $125 to file the Articles of Organization. After that, the Annual Report costs $200 every year. With LLC Register, formation is included in the $99-a-year North Carolina registered agent service, so year one costs $224.
How long does it take to form an LLC in North Carolina?
Standard processing takes about 5–10 business days. Filing online is faster than mailing a paper form. Expedited filing is available for $100 extra (24-hour service) or $200 extra (same-day service if received by noon Eastern). Your LLC exists once the state accepts your filing.
How do I start an LLC in North Carolina?
To start an LLC in North Carolina, choose an available name, appoint a North Carolina registered agent, and file the Articles of Organization with the North Carolina Secretary of State for $125. Then sign an operating agreement, get a free EIN from the IRS, open a business bank account and register for any state taxes. LLC Register files it for you as part of the $99-a-year registered agent service.
Can I form an LLC online in North Carolina?
Yes. You can file online through the Secretary of State's business registration portal, or by mailing the paper Articles of Organization (Form L-01). The Articles of Organization costs $125.
What is the North Carolina LLC formation document called?
In North Carolina you form an LLC by filing the Articles of Organization (Form L-01) with the North Carolina Secretary of State. Other states call this document the articles of organization or the certificate of formation. The filing fee is $125.
Is there an expedited LLC filing option in North Carolina?
Yes. Expedited filing is available for $100 extra (24-hour service) or $200 extra (same-day service if received by noon Eastern). Standard processing takes about 5–10 business days. Filing online is faster than mailing a paper form.
How do I do a North Carolina LLC name search?
Use the North Carolina Secretary of State's free online business name search to check whether your LLC name is available. Your North Carolina LLC name must include "limited liability company" or an abbreviation such as "LLC" or "L.L.C.". It must be distinguishable from other business names on file with the Secretary of State.
What are the North Carolina LLC name requirements?
Your North Carolina LLC name must include "limited liability company" or an abbreviation such as "LLC" or "L.L.C.". It must be distinguishable from other business names on file with the Secretary of State. The rules are set by the North Carolina Limited Liability Company Act, N.C. Gen. Stat. Chapter 57D.
Can I reserve an LLC name in North Carolina?
Yes. You can reserve a name for $30 with Form BE-03; the reservation lasts 120 days. A reservation is optional; filing the formation document also secures the name.
Do I need a registered agent for my North Carolina LLC?
Yes. Every North Carolina LLC must have a registered agent. Your registered agent's registered office must be a physical street address in North Carolina, a P.O. box is not accepted. The agent can be an individual North Carolina resident whose business office is that address, or an authorized entity with a business office there.
Can I be my own registered agent in North Carolina?
Yes. A member or manager who resides in North Carolina can serve as the LLC's registered agent if their business office is the registered office address. Your address becomes public record, and someone must be there during business hours to accept legal papers.
Can I use a PO box for my North Carolina LLC?
Not as your registered agent's address. Your registered agent's registered office must be a physical street address in North Carolina, a P.O. box is not accepted. The agent can be an individual North Carolina resident whose business office is that address, or an authorized entity with a business office there. A PO box can usually serve as a mailing address, but the registered agent needs a physical address in North Carolina.
How do I change my registered agent in North Carolina?
File the BE-06 Statement of Change of Registered Office and/or Registered Agent with the North Carolina Secretary of State. The fee is $5.
How much does a registered agent cost in North Carolina?
Serving as your own North Carolina registered agent is free if you qualify. Commercial registered agents charge a yearly fee. LLC Register's North Carolina registered agent service is $99 a year and includes LLC formation and annual report filing.
Does North Carolina require an annual report for LLCs?
Yes. North Carolina LLCs must file the Annual Report every year. The state fee is $200.
When is the North Carolina LLC annual report due?
The Annual Report is due by April 15 every year after the year your LLC was formed. Your first one is due by April 15 of the year after your LLC is formed. It is filed with the North Carolina Secretary of State.
How much is the North Carolina LLC annual report fee?
Per the North Carolina Secretary of State, as of September 2026, the Annual Report state fee is $200. It is due by April 15 every year after the year your LLC was formed. LLC Register files it for you at no extra service fee while your registered agent service is active.
What happens if I miss the North Carolina annual report deadline?
There is no separate late fee, but missing the April 15 deadline by more than 60 days gives the Secretary of State grounds to administratively dissolve your LLC after notice and a further 60-day cure period. Reinstating costs a $100 fee plus $200 for every delinquent year's report. File as soon as possible to keep your LLC in good standing.
Does North Carolina have a franchise tax for LLCs?
North Carolina's corporate franchise tax applies to C corporations, not to a default pass-through LLC. An LLC that elects corporate tax treatment becomes subject to it like any other corporation.
How are LLCs taxed in North Carolina?
North Carolina taxes an LLC the way the IRS does by default, so profits pass through to the members' personal returns and are taxed at the state's flat individual income tax rate. An LLC that elects to be taxed as a corporation instead pays North Carolina's corporate income tax. Federally, a single-member LLC is taxed like a sole proprietorship and a multi-member LLC like a partnership, unless it elects to be taxed as a corporation.
Do I need a sales tax permit for my North Carolina LLC?
If you sell taxable goods or services, register for a Certificate of Registration with the North Carolina Department of Revenue before you make your first sale.
How do I register my North Carolina LLC as an employer?
Before you hire, register for unemployment insurance with the Division of Employment Security, and for income tax withholding with the Department of Revenue. You also need an EIN from the IRS before you run payroll.
Do I need a business license for my North Carolina LLC?
It depends on your industry and location: North Carolina regulates some professions and activities through state licenses, and many cities and counties require local business licenses. Start with the North Carolina Department of Commerce.
Do I need an operating agreement for a North Carolina LLC?
North Carolina does not require an operating agreement, and you never file one with the state. The law recognizes written, oral or implied agreements among members. LLC Register includes an operating agreement with every North Carolina LLC it forms.
Do I need an EIN for my North Carolina LLC?
You need an EIN if your LLC has employees or more than one member, and most banks ask for one to open a business account. A single-member LLC without employees can use the owner's Social Security number for federal taxes, but an EIN keeps it off business paperwork.
How do I get an EIN for a North Carolina LLC?
Apply for free on the IRS website once the state has approved your LLC; online applicants receive the EIN immediately. Owners without a Social Security number can apply with Form SS-4 by fax or mail.
Can a nonresident form an LLC in North Carolina?
Yes. You do not have to live in North Carolina or be a U.S. citizen to form a North Carolina LLC. You do need a registered agent with a physical address in North Carolina. Non-U.S. owners without a Social Security number apply for an EIN with IRS Form SS-4.
Can I form a single-member LLC in North Carolina?
Yes. North Carolina allows an LLC with a single owner. By default the IRS taxes a single-member LLC like a sole proprietorship, reported on the owner's personal return.
Does North Carolina allow series LLCs?
No. North Carolina's LLC Act does not provide for series LLCs.
Can licensed professionals form a PLLC in North Carolina?
Yes. Licensed professionals such as accountants, architects, attorneys and physicians can form a professional LLC under Chapter 57D by including the required professional designation and meeting their licensing board's rules.
Does North Carolina require LLCs to publish a formation notice?
No. North Carolina does not require newspaper publication to form an LLC.
How do I get a certificate of good standing in North Carolina?
Order a Certificate of Existence from the North Carolina Secretary of State for $12. Banks, lenders and other states often ask for one as proof your LLC is current with the state.
How do I register a foreign LLC in North Carolina?
An LLC formed in another state registers to do business in North Carolina by filing the Application for Certificate of Authority (Form L-09) with the North Carolina Secretary of State. The fee is $250, and the LLC needs a North Carolina registered agent.
How do I amend my North Carolina LLC?
File the Articles of Amendment of Articles of Organization (Form L-17) with the North Carolina Secretary of State for $50. Amend when you change your LLC's name or other information in the formation document.
How do I dissolve an LLC in North Carolina?
File the Articles of Dissolution (Form L-07) with the North Carolina Secretary of State for $30. Before you file, wind up the business: pay debts, close tax accounts and distribute what is left to the members.
How do I file a DBA for my North Carolina LLC?
File an Assumed Business Name (Certificate of Assumed Name) with the Register of Deeds in each county where you do business; the fee is set by the county. The Secretary of State keeps a free statewide search of assumed names. A DBA lets your LLC trade under another name without forming a new company.
Can my North Carolina LLC be taxed as an S corporation?
Yes. An eligible LLC can elect S corporation tax status by filing IRS Form 2553. The election can reduce self-employment tax once profits are high enough to pay yourself a reasonable salary. North Carolina taxes an LLC the way the IRS does by default, so profits pass through to the members' personal returns and are taxed at the state's flat individual income tax rate. An LLC that elects to be taxed as a corporation instead pays North Carolina's corporate income tax.
What are the benefits of forming an LLC in North Carolina?
An LLC separates your personal assets from business debts and lawsuits, keeps pass-through taxation, and needs less paperwork than a corporation. In North Carolina it costs $125 to form and the Annual Report is $200 every year.
LLC vs sole proprietorship in North Carolina: which is better?
A sole proprietorship costs nothing to start, but you are personally liable for the business's debts. A North Carolina LLC costs $125 to form and protects your personal assets, with the same pass-through taxes by default.
Should I form my LLC in Delaware or Wyoming instead of North Carolina?
Usually not if your business operates in North Carolina. An out-of-state LLC doing business here must also register as a foreign LLC in North Carolina for $250 and keep a North Carolina registered agent, so you pay two states' fees.
Does LLC Register charge a separate fee to form a North Carolina LLC?
No. Formation is included in the $99-a-year North Carolina registered agent service. The state still charges its $125 filing fee, which we pass through at cost.
What does LLC Register include with a North Carolina LLC?
For $99 a year plus the $125 state fee: North Carolina LLC formation in year one, a North Carolina registered agent, an operating agreement, and filing of your Annual Report every year. Renewal is $99 a year. State fees are passed through at cost.
Does my North Carolina LLC need to file a BOI report with FinCEN?
No. FinCEN has exempted companies created in the United States from beneficial ownership information (BOI) reporting. Only foreign companies registered to do business in a U.S. state still have to report.
Which state agency handles LLC filings in North Carolina?
The North Carolina Secretary of State, Business Registration Division, handles LLC formations, amendments and annual filings. Its office is at 2 South Salisbury Street, Raleigh, NC 27601 (mail: PO Box 29622, Raleigh, NC 27626-0622).
Do I need a separate bank account for my North Carolina LLC?
Yes, you should. Mixing business and personal money can weaken the liability protection your LLC gives you. Banks usually ask for your filed Articles of Organization, your EIN and your operating agreement.
Complete North Carolina LLC Glossary
The terms, documents and filings you will meet when forming a North Carolina LLC.
Annual report
A recurring filing that keeps your LLC in good standing with the state. In North Carolina it is the Annual Report, due by April 15 every year after the year your LLC was formed.
Articles of Organization
The document filed with the state to create an LLC. Some states call it a Certificate of Formation; in North Carolina it is the Articles of Organization.
Assumed name (DBA)
A trade name your LLC uses instead of its legal name. In North Carolina you file a Assumed Business Name (Certificate of Assumed Name).
Banking resolution
A document authorizing who may open and run the LLC's bank accounts.
Certificate of good standing
Proof from the state that your LLC exists and is current on its filings and fees. In North Carolina it is the Certificate of Existence.
Dissolution
Formally closing an LLC with the state. In North Carolina you file the Articles of Dissolution (Form L-07).
EIN
Employer Identification Number: the nine-digit federal tax ID the IRS issues to a business.
Foreign qualification
Registering an LLC formed in another state so it can do business in North Carolina, through the Application for Certificate of Authority (Form L-09).
Franchise tax
A state tax some states charge for the privilege of doing business there. North Carolina's corporate franchise tax applies to C corporations, not to a default pass-through LLC. An LLC that elects corporate tax treatment becomes subject to it like any other corporation.
Limited liability
The legal protection that keeps the owners' personal assets separate from the LLC's debts and lawsuits.
Manager-managed LLC
An LLC run by appointed managers rather than by all of its members.
Member
An owner of an LLC. An LLC can have one member or many, and members can be people or companies.
Member-managed LLC
An LLC run directly by its owners, the members.
North Carolina Limited Liability Company Act, N.C. Gen. Stat. Chapter 57D
The North Carolina law that governs how LLCs are formed, run and dissolved.
Operating agreement
The internal contract that sets out an LLC's ownership, voting, profits and what happens when a member leaves.
Pass-through taxation
The default federal tax treatment of an LLC: profits pass to the owners' personal returns instead of being taxed at the company level.
Professional LLC (PLLC)
An LLC for licensed professionals such as doctors, lawyers or accountants. Available in North Carolina.
Registered agent
The person or company with a physical North Carolina address named to receive legal papers and state mail for the LLC.
S corporation election
A federal tax election, made on IRS Form 2553, that lets an eligible LLC be taxed as an S corporation.
Series LLC
An LLC divided into separate series, each with its own assets and liabilities. Not provided for in North Carolina law.
Single-member LLC
An LLC with one owner. By default the IRS taxes it like a sole proprietorship.
