Tuesday, July 28, 2009

Choosing a Business Entity - Limited Liability Company (LLC)

Limited Liability Company (LLC)

In recent years the Limited Liability Company (LLC) has become a popular choice among business owners in Nevada. The LLC enjoys a host of benefits, including (1) asset protection (2) tax advantages and (3) simplicity of formation and operation of the business. LLC’s do have some similarities to partnerships in regards to taxation. In addition, LLC’s provide great flexibility in regards to the management of the business as all members of an LLC can manage the business or the management can be delegated to a group of members or a single member. In addition, a manager can be a corporation, partnership of even another LLC.

Disclaimer: This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. If you have questions or need specific advice relating to the matters contained herein, please contact Lovaas & Lehtinen, P.C.

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