Is an LLC The Right Entity Choice for Your New Business?
An LLC is a hybrid of a corporation and a partnership.
The owners are generally not liable for the debts and obligations of the corporation.
The entity is taxed like a partnership-income and losses of the LLC are accounted for on the owner's individual tax returns.
Can be owned by non-U.S. citizens / resident aliens and other business entities (i.e. one LLC can own some or all of another LLC or C-Corporation).
Can have an unlimited number of members (shareholders of an LLC are known as members).
Less formal than a corporation (no minutes, corporate resolutions, etc. are required, although in order to maintain corporate formalities they are recommended).
For Information By State
- S Corporation
- C Corporation
- Limited Liability Company (LLC)
- Doing Business As (DBA)
- Foreign Corporation
- Business Startup Information