Informal and easy to maintain
Unlike the corporation the LLC is not required to hold meetings annually or maintain bylaws furthermore ownership is expressed by the % each member owns unlike the corporation where ownership is represented by shares of stock.
The LLC is the most versatile of all entity types as members can elect receive the same tax treatment of an S or C Corporation. The ease of management, limited liability and ability to designate corporate tax treatment make the LLC our most favored entity type.
Pass through Tax Entity
Any profits or losses on the business will pass through directly to the member's personal tax return and are treated as personal income and taxed on an individual level.