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 Washington State, forming a Limited Liability Company (LLC) is governed by the Washington Limited Liability Company Act. This act allows for the creation of LLCs, which can have one or more members, and there is no maximum limit on the number of members. These members can be individuals, corporations, other LLCs, and foreign entities. Washington does not impose restrictions on the ownership of LLCs based on residency or citizenship. However, certain types of businesses, such as banks and insurance companies, may not be eligible to form an LLC under state law. It's important for anyone interested in forming an LLC in Washington to review the specific state statutes that apply to LLCs, as well as federal tax regulations, as there may be different rules for foreign LLCs and other special considerations. Additionally, LLCs in Washington must file a Certificate of Formation with the Secretary of State and adhere to other state-specific requirements such as creating an operating agreement, obtaining a Unified Business Identifier (UBI), and annual reporting.