Starting an LLC (Limited Liability Company)
Starting an LLC or Limited Liability Company has unique advantages:-
- Enables the owners to limit personal liability for acts of the company.
- Small business owners commonly establish an LLC for liability protection.
- An LLC exists apart from its owners or ‘members’ who are not personally responsible for business debts.
- Accountants or attorneys can set up an LLC on your behalf, although you may decide to do it yourself. The procedure for setting up is usually relatively straightforward.
- An LLC provides an efficient and adaptable business structure and is popular with small business owners.
- LLCs tend to be easier to set up than corporations and generally have less ongoing reporting obligations.
- Each state has their own rules for forming an LLC, so it is advisable to check your own state laws prior to proceeding.
LLC Guide
