LET’S LEARN ABOUT DIFFERENT COMPANIES
LLC (Limited Liability Company)
The Limited Liability Company has become a leading choice for numerous small business owners, and for good reason. Its appeal lies in its relative simplicity of setup and ongoing management, coupled with a flexible organizational structure that can adapt to diverse business needs. More importantly, the LLC offers significant personal liability protection to its owners, meaning their personal assets are generally shielded from business debts and legal liabilities.
Furthermore, LLCs often benefit from "pass-through" taxation, a streamlined approach where business profits are reported directly on the owners' individual income tax returns, thereby avoiding the complexities and potential for double taxation often associated with other business structures.