Limited Liability Companies (LLCs) are corporate structures where the owners are not personally liable for the company's debts or liabilities.
An LLC is a more formal partnership arrangement that requires articles of organization to be filed with the state. An LLC can be much easier to set up than a corporation and provides increased flexibility and protection, but regulations vary from state to state.
This business structure is a separate and distinct legal entity that is able to get a tax identification number, open a bank account and do business, all under its own name. The fact that the company is a separate legal entity from its owners is very important as it means that all the company's liabilities are the responsibility of the company – not that of the owners!
We are happy to discuss your individual requirements and undertake a proper risk assessment thus enabling you to decide on the best way forward for your business. Whether you proceed as an LLC or as an incorporated business, our assessment will indicate the most beneficial tax arrangements available to you and help you to make sensible choices about how you can minimize your commercial risks.
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