How to Form & Operate a Limited Liability Company (W/CD)
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More and more professionals are forming limited liability companies (LLCs) to take advantage of the attractive benefits. LLCs provide partners with a corporate-style liability shield, protecting them from personal responsibility for the company's debts and obligations. LLCs also offer partnership tax status, so that partners are not taxed twice, as they are in corporations.This book explains LLCs in detail, helping readers to fully understand what an LLC is and how they can benefit from one. Includes: -- Legal requirements-- Converting an existing business-- Basics of membership-- General tax considerations-- Terminating an LLC-- State-by-state directory of information-- Samples of the necessary forms for 49 states