What is a Limited Liability Company (LLC)? Limited Liability Companies (LLC)are a special type of business entity. Many economists and business experts consider the LLC to be the “best of both worlds”. Like asole proprietorship, LLCs are easy to set up and maintain compliance with – but...
Another good asset protection technique to shield your personal and other valuable assets is allowing the limited liability company own a “blanket mortgage” on all your assets – that is, in a sense, you owe money to your LLC. Alternatively, don’t put all you eggs in one basket and hav...
A limited liability company, or LLC, can be an attractive way to organize smaller businesses that don't plan to significantly expand. The LLC offers the personal liability protection and fringe benefits of a corporation, but lacks many of the administrative and organizational obligations. Additionally...
Last month, Utah became one of a handful of states to offer benefit limited liability companies. Effective on May 8, 2018, the Utah Benefit Limited Liability Company Act, codified at Utah Code Title 48 Chapter 4 (the “Act”), allows companies to organize as a benefit LLC (a “BLLC”)...
A limited liability company, or LLC, is a formal business structure that allows one or multiple owners several financial protections and other benefits relative to a corporation. A corporation is formed when business founders file formal articles of incorporation in a state. ...
LLCs may be taxed in four primary ways How to choose which tax model is right for you When deciding on a business structure, one of your primary concerns should be taxes. If you are considering a limited liability company (LLC), keep in mind that the Internal Revenue Service(IRS) doesn...
What Is a Limited Liability Company (LLC)? A limited liability company (LLC) is a business structure in the U.S. that protects the assets of its owners from lawsuits and creditors concerned with the company's business debts. Limited liability companies are hybrid entities that combine the char...
1. Limits Your Personal Liability An LLC is viewed as a legal entity separate from its individual members or owners. Similar to shareholders of a corporation, an LLC owner is not personally liable for the LLC's debts or legal liabilities. For example, if your LLC has $5,000 in debt, th...
LLC stands for Limited Liability Company. Also, known for a US-specific form of a private limited company. A business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. You May Also Like Read What is a Pr...
Alimited liability company(LLC) is a legal entity that has the advantages of acorporation(such as limited liability) but is easier to form and operate. All LLCs automatically receive a form of tax treatment by default. A multi-owner LLC is automatically taxed as a partnership by default, wh...