The LLC has become an increasingly popular corporate structure. LLC’s combine the personal liability protections of a large corporation and the simplified tax structure and filing requirements of a partnership or sole proprietorship. Traditionally, corporations were the only structure that afforded personal liability protection. Because corporations are distinct entities with the power to make agreements, sign contracts and even commit crimes, owners couldn’t be blamed for its actions. Owners are merely shareholders; the corporation is the one that should pay for the wrongdoing. That was a benefit many businesses wanted.Details here.
Monday, October 21, 2013
Posted by Lenny at 3:30 AM