Learn what you need to know to determine if an LLC or S Corp designation is the right decision for your new business.
Series LLC vs Professional LLC:Professional LLCis a type ofLLCthat provides limited liability protection to business owners in licensed professions such as accountants, lawyers, doctors, etc. While in aseries LLCmultiple companies or lines of business are registered under a master LLC where each bus...
Both LLCs and Corporations offer limited liability protections. They own the business plus all its assets, debts, and liabilities such that your personal assets and business assets are separate entities. In the event of lawsuits, your personal properties such as vehicles, houses, and personal bank...
the number of employees, the level of involvement of the owner(s), and tax considerations. While more complex business structures can allow for greater tax minimization and sophistication, they are also more expensive to create and maintain, often requiring the professional services of ...
An LLC is a good combination of protection with flexibility and tax benefits. It provides an array of taxation alternatives while shielding individual members from personal liability.
LLC vs Corporation: Pros and Cons When deciding whether to form an LLC or corporation, it's important to consider the unique benefits and drawbacks of each. The choice between an LLC or corporation can impact taxes, legal liabilities, and operational flexibility, so it's essential to weigh th...
Limited liability:Both LLCs and corporations provide limited liability. This means the business and all its liabilities are considered to be legally separate from its owners. Any business debts or assets belong to the business. In other words, if the business gets sued, the owners’ personal ass...
A domestic LLC is initially formed in the state of Louisiana, whereas a foreign LLC is initially registered in another state and then applies to do business in Louisiana. The state also recognizes a professional LLC (PLLC), which consists of one or more persons licensed to practice the same ...
Amazon LLCs: Pros and Cons LLCs, or limited liability companies, are a popular choice for Amazon sellers. In fact, Amazon itself is an LLC. So why would you choose an LLC for your Amazon business? Let's address the positives and the negatives of forming one of the most popular entities...
Are you considering setting up your Illinois business as a limited liability company? Learn the pros and cons of structuring a business as an LLC in Illinois, and how an LLC compares with other forms of organizing a business.