More importantly, the LLC provides personal asset protection.
The LLC is a formal business entity type that blends elements of a corporation with components of a sole proprietorship or general partnership.įor example, an LLC has corporate personhood, just like a corporation does: the LLC can buy property, have a bank account, hire employees, and more. By the end, you’ll have a clearer idea of whether or not an LLC is right for you. If you’ve talked about forming a business with friends or family, then maybe you’ve heard the following advice: “You should form an LLC!” But what does that mean?īelow we’ll cover everything you need to know about LLCs.
Starting a business is an exciting prospect.
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