PROS & CONS OF AN LLC
Get the Facts About an LLC
A Limited Liability Company (LLC) combines the tax flexibility of a partnership with the personal liability protection of a corporation. LLC owners report their share of business profit and loss on their personal tax returns, similar to tax reporting for a general partnership. LLC formation can help you separate yourself from your business, protecting your personal assets in the event of a judgment against the company. All 50 states and the District of Columbia now recognize this popular business type.
Thousands of Entrepreneurs and Business Owners are Forming LLCs
As with any business entity, there are advantages and disadvantages. Make sure you know all the facts before setting up your business.