What is NHs business income tax on single member LLCs?
1.What is a Limited Liability Company? The Limited Liability Company is the business form of choice for those business owners desiring: 1) protection from individual liability for company debts, negligence, and breaches of contract; and 2) flow through taxation. The Limited Liability Company is a hybrid between the corporation form of organization and the limited partnership form. The Limited Liability Company protects all members (owners) from individual liability for company debts and misdeeds, much like the corporation. Please note that there are exceptions, such as the treatment of a professional limited liability company (PLLC). What’s more, while a creditor of the corporation can attach corporate stock and gain control of the corporation, a creditor of a Limited Liability Company cannot become a member and control the company, a creditor of a Limited Liability Company can only receive an income interest in the company. Consequently, the Limited Liability Company combines the best
