Limited Liability Company (LLC)

The LLC is a type of hybrid business structure that is designed to provide the limited liability features of a corporation and the tax efficiencies and operational flexibility of a partnership. A popular choice for sole proprietors who are looking to incorporate simply to protect personal assets or secure additional loans, the LLC is thought to be one of the easiest and least expensive forms of ownership to organize. The Limited Liability Company (LLC) is now a recognized business structure in all 50 states plus the District of Columbia. LLCs are gaining popularity with small business owners because they combine the advantages of a corporation with the tax advantages and management flexibility of a partnership

What are the main advantages of forming an LLC?

       Owners of an LLC have limited liability for business debts.

       For tax purposes, the allocation of profit and loss of an LLC need not be proportional to ownership interests.

       With an LLC, there is no double taxation threat since the LLC is not a separate taxable entity.

       You do not need to be a US citizen to own or invest in an LLC.