Limited Liability Company (LLC)
Limited Liability Company
Limited Liability Companies (LLC) are a hybrid business entity. The entity is structured similar to a partnership, but the owners are referred to as Members. Members have liability protection from business liabilities similar to a corporation. But unlike a corporation, a LLC does not have to comply with ongoing corporate formalities. A LLC may be managed by its Members or by Mangers.
If your business will be formed by individuals licensed to perform professional services, then you should consider forming a Professional Limited Liability Company (PLLC).
Limited Liability Companies may elect to be taxed as a C-Corporation or as a pass-through entity.
Our attorneys can help you decide if a LLC entity is right for your business.