LLC’s: They don’t have to be so confusing!
The limited liability company, or LLC, is a new concept for businesspeople in the United States. Internationally, LLC’s are fairly common. However, investors, employees, and lawmakers aren’t always quick to warm up to such a structure in America. Let’s clear up some of the misunderstandings and confusion about LLC’s and hopefully we can figure out what an LLC is all about in the process! Here are frequently asked questions about the topic; chances are you’ve stumbled upon the same ones in your own thought process.
How does an LLC differ from a corporation?
LLC’s resemble partnerships or sole proprietorships in that they feature advantageous pass-through taxation. Economically, they make a lot more sense! But they also have the benefit of limited liability for their members, just like a corporation. Basically: the LLC is not a separate entity from its owners but its owners are still protected from personal liability. No double taxation and no liability LLC’s are hybrids of a partnership and a corporation.
If LLC’s are so great, why would you not...
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