What are the benefits of forming a Limited Liability Company (LLC)?
A Limited Liability Company, or LLC, is a hybrid business structure, combining the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. The term “limited liability” means that LLC owners (called “members”) are only liable for debts of the business to the extent of their investment in the company – provided the LLC is properly established and managed according to the operating agreement. Click here for some of the advantages and disadvantages to consider when deciding whether to form a Limited Liability Company.
A Limited Liability Company, or LLC, is a hybrid business structure, combining the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. The term “limited liability” means that LLC owners (called “members”) are only liable for debts of the business to the extent of their investment in the company provided the LLC is properly established and managed according to the operating agreement. Click here for some of the advantages and disadvantages to consider when deciding whether to form a Limited Liability Company.
