A Limited Liability Company (LLC) is a business structure allowed by state statute. Each state may use different regulations, you should check with your state if you are interested in starting a Limited Liability Company.
Limited Liability: Guards against litigation and business obligations affecting your personal assets.
Pass-Through Taxation: Unlike C corporations, profits and losses are transferred to the owners' personal income tax returns, preventing double taxation.
Credibility: The credibility of your company might be improved by an LLC.
Although the procedure differs from state to state, it typically entails:
deciding on a name for the company.
submitting the state's Articles of Organization.
appointing a representative.
drafting an operating agreement, which is strongly advised.
