LLC Benefits

Limited Liability Companies (LLCs) have become the most popular choice for small to medium-sized businesses when compared to corporations or partnerships. Often described as the combination of a partnership and a corporation, the LLC combines a corporation's liability protection with a partnership's tax flexibility. All 50 states and the District of Columbia now recognize LLCs.  Other benefits of an LLC are listed below.

LLC Advantages

• Limited personal liability for business debts and obligations
• Owners/members are not required to be U.S. citizens or permanent residents
• Simplified record keeping (annual meetings and minutes are not required)

 

LLC Tax Flexibility

Like a sole proprietorship or partnership, an LLC enjoys pass-through taxation. This means that owners (also known as "members") report their share of profits or losses in the company on their individual tax returns. The Internal Revenue Service (IRS) does not assess taxes on the company itself. This avoids the "double taxation" that general, or "C," corporations experience. By filing additional application forms, LLC owners can also elect for the IRS to tax their LLC as a C Corporation or S Corporation.

LLC Compliance

• Obtain any necessary Business Licenses & Permits before you open for business.
• Prior to opening a business bank account, order your EIN from LLC.com (included with our Platinum Package).
• Register any additional business names with LLC.com's DBA service.

More details are available in our FAQs.

Prefer personal assistance?

Speak with an LLC.com Business Consultant at 877-261-9606(toll-free) or 302-636-5457.