What are the benefits of forming an LLC?
“In an LLC, the owner’s personal assets are shielded from business liabilities just as they would be in a corporation. In addition, the IRS views the LLC as a “disregarded entity.” Thus, an LLC does not file separate taxes. Company profits and losses flow through to the owners and are subject to each owner’s individual tax rates.
Forming an LLC is great for a business that wants liability protection but seeks minimal formality. It’s also the perfect structure for a business with foreign owners since anyone (C Corp, S Corp, another LLC, a trust, or an estate) can be an owner of an LLC.”
–Corpnet.com
Read more about LLC’s, Scorps, and other types of entities over at my trusted compliance partners. Corpnet.com
The link to this article:
https://www.corpnet.com/blog/filing-llc-faq/…
