A limited liability company (LLC) is a form of business entity that is separate and distinct from a person, like a corporation. The LLC is often described as hybrid between a corporation and a partnership (or sole proprietorship). It allows for the limited liability protection similar to that of a corporation (i.e. your risk is limited to the amount that is invested in the LLC, and personal assets beyond that are usually protected). It also allows for a more flexible setup and operating structure than a corporation while providing the pass through taxation of a partnership (if a multi-member LLC) or a sole proprietorship (if a single member LLC). One of the main advantages of an LLC over a Partnership or a Sole Proprietorship is the Limited Liability protection.
Latest posts by Melissa Clark (see all)
- Blogging vs. Freelance Writing: What Is Better for Making Money as a Solopreneur? - December 12, 2017
- Is Becoming an Amazon Seller Right For You? - November 2, 2017
- Achieve Corporate Compliance by Following These Corporation Rules and Regulations - June 7, 2017