Easy Questions  
Free Legal Documents

Structural Advantages of a Limited Liability Company (LLC) in Alleghany, CA

Structural Advantages of a Limited Liability Company (LLC) in Alleghany, CA


Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do.
 
- Steve Jobs


A Limited Liability Company blends almost all the structure of business entities like a sole proprietorship, partnership, and corporation without their respective drawbacks. New business start-ups often choose an LLC as the structure of their business.

An LLC offers several key advantages for new businesses:

1. Chart Your Own Course

As the owner of a business, you want to carve out your own place under the sun by running your own show. An LLC can be run by a single person, and most states recognize you as the sole owner of the business. Being on your own, you can make decisions without consulting or needing the approval of other members of the company. Like a sole proprietorship, you own, manage, and operate your business without the liability issues of a sole proprietor. If you have a co-owner, you can enter into a mutual or operating agreement to point out the obligations and respective role you each play in order for the business to run smoothly.

2. Bypass Double Taxation

An LLC is treated as a "pass-through" entity that allows profits to be taxed only once on each member's individual income tax return. (You can also opt for declaring your LLC as an S corporation or partnership in order to receive similar "pass-through" treatment from the IRS.)

3. Limit Personal Liability

One advantage of structuring your business as an LLC is that your personal assets will not be used to pay off the debts or legal liabilities of the LLC. The only thing that the owner or investor may lose is the capital contribution that is invested in the company. There are instances where the owner of the LLC may be personally liable, such as when he/she personally guarantees a business debt, fails to exercise due care resulting in harm to a third party, or breaches his/her duties as an owner.

4. Limit Administrative Hassles and Paperwork

Setting up and maintaining an LLC is less complicated when compared to other types of business structures. An LLC can be formed by filing articles of organization with the relevant state office, and paying the corresponding fees. The application will indicate the name and address of the company, the identity of its member(s), and other information relevant to the business. There are no mandatory meeting or reporting requirements by the member(s) or any annual directors' meeting that is usually required by a corporation.

5. Gain Flexibility in Sharing Profits

Most businesses share their profits (or losses) based on the percentage of investment they have in the company. In an LLC it can also be applied as a basis for distributing the profits, but there are other ways to distribute the profits as indicated in the LLC operating agreement. There is an IRS rule about so-called special allocations that come into play that require allocations not based on ownership interest to reflect a legitimate economic circumstance as opposed to merely trying to gain a tax advantage for the owners.
 
Personalize & Print a Free CA Last Will Download this Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
 
Personalize & Print a Free CA Living Will Download this Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Related Legal Services near Alleghany, CA
Ko Paul W
1601 Bayshore Hwy Ste 249
Burlingame, CA 94010
(650) 777-9999
Attorneys, Legal Service Plans
Asobie Ugo
3540 Wilshire Blvd # 508
Los Angeles, CA 90010
(213) 385-9991
General Practice Attorneys, Attorneys, Legal Service Plans
Hersh V Kapoor
3540 Wilshire Blvd
Los Angeles, CA 90010
(213) 385-9991
General Practice Attorneys, Attorneys
Steven L. Walker
303 Almaden Blvd
San Jose, CA 95110
(408) 828-9989
Attorneys,  Bankruptcy Law Attorneys,  General Practice Attorneys,  Legal Service Plans
Pappas Diane
400 Mobil Ave # C3
Camarillo, CA 93010
(805) 389-9988
General Practice Attorneys, Attorneys, Legal Service Plans
Sollitt Mark
8421 Auburn Blvd
Citrus Heights, CA 95610
(916) 797-9988
Attorneys
Sawdayi Devin Law Offices
9107 Wilshire Blvd # 225
Beverly Hills, CA 90210
(310) 552-9937
Attorneys,  General Practice Attorneys,  Bankruptcy Services,  Legal Service Plans,  Bankruptcy Law
John M Angerer
7011 Sylvan Rd
Citrus Heights, CA 95610
(916) 235-9913
Financial Services,  Social Security & Disability Law Attorneys,  Attorneys,  Estate Planning, Prob
Matthews Leo
4322 Wilshire Blvd # 200
Los Angeles, CA 90010
(323) 317-9885
General Practice Attorneys, Attorneys, Legal Service Plans
Ye John C
3660 Wilshire Blvd # 1040
Los Angeles, CA 90010
(213) 249-9877
Attorneys,  Accident & Property Damage Attorneys,  Personal Injury Law Attorneys,  Legal Service Pla
Netzer & Malmo Personal Injury Attorneys
720 E Bullard Ave
Fresno, CA 93710
(559) 440-9800
Personal Injury Law Attorneys,  Attorneys,  General Practice Attorneys,  Legal Service Plans,  Accid
So Cal Criminal Defense Attorneys
3250 Wilshire Blvd
Los Angeles, CA 90010
(213) 351-9796
Attorneys
Eugene Action
1780 E Barstow Ave Ste. 5
Fresno, CA 93710
(559) 283-9772
Attorneys,  Criminal Law Attorneys,  DUI & DWI Attorneys,  Civil Litigation & Trial Law Attorneys,  
Immigrant American Foundation Fundemi
3540 Wilshire Blvd # 618
Los Angeles, CA 90010
(213) 351-9736
Immigration Law Attorneys, Immigration & Naturalization Consultants, Attorneys
Anastasi & Nielsen
255 N. Market St. Suite 150
San Jose, CA 95110
(408) 294-9700
Probate Law Attorneys, Wills, Trusts & Estate Planning Attorneys, Attorneys
Sagaria Law, P.C.
333 W San Carlos St # 1625
San Jose, CA 95110
(408) 753-9700
Attorneys, Bankruptcy Services, Family Law Attorneys, Wills, Trusts & Estate Planning Attorneys, Leg
Mediation & Family Law Document Service
215 E Daily Dr Suite 28
Camarillo, CA 93010
(805) 914-9644
Paralegals,  Legal Document Assistance,  Divorce Assistance,  Attorneys Referral & Information Servi
Franklin Jonathan
427 N Canon Dr
Beverly Hills, CA 90210
(310) 273-9600
General Practice Attorneys, Attorneys
Murphy John J
3990 Old Town Ave
San Diego, CA 92110
(619) 291-9593
General Practice Attorneys, Attorneys, Legal Service Plans
Arter Lee
2033 Gateway Pl
San Jose, CA 95110
(408) 287-9533
Attorneys,  Accident & Property Damage Attorneys,  Personal Injury Law Attorneys,  Legal Service Pla
Broderick Saleen Law Firm for Sexual Harassment & Employment Law
2033 Gateway Place Ste 500
San Jose, CA 95110
(408) 621-9525
Personal Injury Law Attorneys, Employment Discrimination Attorneys, Sexual Harassment Attorneys
Contreras Raymond M
721 3rd Ave
Chula Vista, CA 91910
(619) 425-9500
General Practice Attorneys, Attorneys
Adam Brewer
319 F St Suite 201A
Chula Vista, CA 91910
(619) 591-9500
Attorneys,  Family Law Attorneys,  Tax Attorneys,  Divorce Attorneys,  Bankruptcy Services,  Bankrup
Roman P. Mosqueda
3460 Wilshire Blvd # 407
Los Angeles, CA 90010
(213) 252-9481
Civil Litigation & Trial Law Attorneys, Criminal Law Attorneys, Divorce Attorneys, Immigration Law A
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US