Easy Questions  
Free Legal Documents

Structural Advantages of a Limited Liability Company (LLC) in Atlasburg, PA

Structural Advantages of a Limited Liability Company (LLC) in Atlasburg, PA


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 PA 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 PA 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 Atlasburg, PA
Kops Stanley P
102 Bala Ave
Bala Cynwyd, PA 19004
(610) 949-9999
Attorneys, Legal Service Plans
Coffey Kaye Myers & Olley
2 Bala Plz
Bala Cynwyd, PA 19004
(610) 668-9800
Attorneys,  Personal Injury Law Attorneys,  Insurance Attorneys,  Product Liability Law Attorneys
Karoly John Jr Atty
1555 N 18th St
Allentown, PA 18104
(610) 820-9790
Attorneys,  Criminal Law Attorneys,  Accident & Property Damage Attorneys,  Legal Service Plans
Creveling Wilbur C Jr Attorney
828 N Ott St
Allentown, PA 18104
(610) 435-9773
Attorneys, General Practice Attorneys
Aritz Frank J
23 W Walnut St
Kingston, PA 18704
(570) 288-9751
Attorneys, Legal Service Plans
Berdugo & Fialkoff,
1 Union Ave, Po Box 591
Bala Cynwyd, PA 19004
(215) 992-9662
Bankruptcy Services,  Bankruptcy Law Attorneys,  Immigration Law Attorneys,  Attorneys,  Immigration
Speyer Debra G
2 Bala Plz # 300
Bala Cynwyd, PA 19004
(610) 949-9555
Securities & Investment Law Attorneys, Attorneys
Markowitz & Richman
121 N Cedar Crest Blvd Ste M
Allentown, PA 18104
(610) 820-9531
Legal Service Plans, Attorneys, Labor & Employment Law Attorneys, Employee Benefits & Worker Compens
Terrana Jr, Angelo Terrana Law
400 3rd Ave # 117
Kingston, PA 18704
(570) 283-9500
Attorneys, Real Estate Attorneys, Title Companies, Estate Planning Attorneys, Legal Service Plans
Terrana Law
400 3rd Ave Ste 117
Kingston, PA 18704
(570) 283-9500
Attorneys,  Business Law Attorneys,  Real Estate Attorneys,  Title Companies,  Legal Service Plans,
Scherf Mary A
5 W Lodges Ln
Bala Cynwyd, PA 19004
(610) 949-9477
General Practice Attorneys, Attorneys
Stitt John W
1434 W Market St
York, PA 17404
(717) 846-9400
General Practice Attorneys, Attorneys, Legal Service Plans
Pavlack Keith R
1908 W Allen St
Allentown, PA 18104
(610) 433-9370
Attorneys,  Family Law Attorneys,  Social Security & Disability Law Attorneys,  Accident & Property
Rish & Shaw
278 Courtdale Ave
Kingston, PA 18704
(570) 283-9345
Attorneys, General Practice Attorneys, Legal Service Plans
Feldman Law Offices
221 N Cedar Crest Blvd
Allentown, PA 18104
(610) 530-9285
Bankruptcy Law Attorneys, Attorneys, Legal Service Plans
Rush Renkert Barbara
1405 N Cedar Crest Blvd
Allentown, PA 18104
(610) 770-9191
Attorneys, Estate Planning Attorneys, Wills, Trusts & Estate Planning Attorneys, Legal Service Plans
Wiener M S Attorney
3605 Trexler Blvd
Allentown, PA 18104
(610) 481-9188
Attorneys, Legal Service Plans
Hiscox and Musto Law Offices
400 3rd Ave Ste 200
Kingston, PA 18704
(570) 714-9100
Civil Litigation & Trial Law Attorneys, Attorneys, General Practice Attorneys
Dr. Michael Callahan
550 3rd Ave
Kingston, PA 18704
(570) 288-9070
Attorneys
Berger Steven B
111 Presidential Blvd # 208
Bala Cynwyd, PA 19004
(610) 668-9070
Attorneys, Legal Service Plans
Schantz & Gray
2310 Walbert Ave Ste 102
Allentown, PA 18104
(610) 770-9011
Attorneys, Legal Service Plans
Knafo Law Offices
1409 Hausman Rd
Allentown, PA 18104
(610) 395-9001
General Practice Attorneys, Attorneys, Legal Service Plans
A Accidentattorney.Com
1409 Hausman Rd
Allentown, PA 18104
(610) 395-9001
Accident & Property Damage Attorneys,  Attorneys,  Malpractice Law Attorneys,  Legal Service Plans,
Moot William E
616 Lamberd Ave
Johnstown, PA 15904
(814) 266-8911
Attorneys, Legal Service Plans
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US