Limited Liability Companies Growing

By West, Phil | The Commercial Appeal (Memphis, TN), February 20, 2013 | Go to article overview

Limited Liability Companies Growing


West, Phil, The Commercial Appeal (Memphis, TN)


JACKSON - The number of new limited liability companies is up, and new incorporations are down, a sign that business is good in Mississippi - especially among sectors that prefer the LLC structure and its limited liability for owners, Secretary of State Delbert Hosemann said Tuesday.

The number of new businesses setting up as LLCs rose from 12,005 in 2010 to 14,918 in 2012, while the number of businesses setting up as corporations dropped from 3,819 to 3,575 during the same period, Hosemann said.

The state now has 77,704 LLCs and 48,488 corporations registered with the secretary of state.

"As we move past this economic recession, more and more businesses want to set up shop in Mississippi, and the numbers show it," Hosemann said in a news release.

"We have unlimited resources in our state, coupled with an educated, trainable workforce. These numbers show many businesses are taking advantage of what Mississippi can offer new industries."

Among his duties as secretary of state, Hosemann's responsibilities include administering the state's laws concerning corporations, LLCs and the Uniform Commercial Code. …

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