A Limited Liability Company (LLC) is a business structure allowed by state statute. Each state may use different regulations, so you should read the relevant state statutes if you are interested in forming an LLC.

Owners of an LLC are called members. Most states do not restrict ownership, so members may include individuals, corporations, other LLCs and foreign entities. There is no maximum number of members. Most states also permit single-member LLCs—those having only one owner.

A few types of businesses generally cannot be LLCs, such as banks and insurance companies. Check your state’s requirements and the federal tax regulations for additional information. There are special rules for foreign LLCs.

In Kansas, a Limited Liability Company (LLC) is a popular business structure due to its flexibility and protection for its members against personal liability for business debts. The Kansas Statutes provide the legal framework for the formation and operation of LLCs within the state. Kansas does not restrict the ownership of an LLC, which means that individuals, corporations, other LLCs, and foreign entities can be members. There is no limit to the number of members an LLC can have, and Kansas permits the creation of single-member LLCs. However, certain types of businesses, such as banks and insurance companies, may not be eligible to form an LLC in Kansas. Those interested in forming an LLC in Kansas should consult the specific state statutes for detailed requirements and also consider federal tax regulations, which may affect the LLC's taxation. Additionally, foreign LLCs that wish to operate in Kansas must comply with state requirements, which typically include registering with the Kansas Secretary of State and appointing a registered agent for service of process within the state.