12Law Arrow 12Law Arrow  Easy Questions  
12Law Arrow 12Law Arrow Instant Legal Documents
 
 
FINANCIAL & MARITAL

Cohabitation Agreement coming soon!
Separation Agreement coming soon!
No-Fault Divorce coming soon!
Bankruptcy coming soon!
 
 

Structural Advantages of a Limited Liability Company (LLC) in Zip Code 92359

Structural Advantages of a Limited Liability Company (LLC) in Zip Code 92359


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 Create 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 Create This Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Related Legal Services near Zip Code 92359
Full Service Evictions
1130 1st St Ste 215
Napa, CA 94559
(707) 253-9497
Attorneys, Eviction Service, Landlord & Tenant Attorneys
Anderson James R Law Office
230 Main St
Nevada City, CA 95959
(530) 265-9479
Attorneys,  Mediation Services,  Family Law Attorneys,  Arbitration Services,  Arbitration & Mediati
Loizeaux Christopher
587 Jefferson St
Napa, CA 94559
(707) 224-9209
Attorneys
Gaw Van Male
1000 Main St
Napa, CA 94559
(707) 252-9000
Divorce Assistance,  Attorneys,  Probate Law Attorneys,  Real Estate Attorneys,  Wills, Trusts & Es
James Butler Law Office
11908 Casci Ridge Rd
Nevada City, CA 95959
(530) 470-9000
Accident & Property Damage Attorneys,  Personal Injury Law Attorneys,  Insurance Attorneys,  Attorne
Smith Douglas N
1207 Coombs St
Napa, CA 94559
(707) 257-8935
Divorce Assistance, Attorneys, Family Law Attorneys, Divorce Attorneys, General Practice Attorneys,
Dreskin Anderson Naomi
1001 2nd St Ste: 345
Napa, CA 94559
(707) 252-8900
Attorneys, Nursing Home Litigation Attorneys
Burton Richard C
301 Broad St
Nevada City, CA 95959
(530) 265-8888
Divorce Attorneys,  Arbitration & Mediation Attorneys,  Attorneys,  Real Estate Attorneys,  Family L
Guyton Jeffrey P Esquire
305 Railroad Ave # 7
Nevada City, CA 95959
(530) 470-8871
Attorneys, General Practice Attorneys
Peter Bradley S Attorney & Counselor At Law
922 Marina Dr
Napa, CA 94559
(707) 253-8838
Attorneys
Sierra Mediation
138 New Mohawk Rd.
Nevada City, CA 95959
(530) 265-8785
Attorneys, Mediation Services, Arbitration & Mediation Attorneys
Foster Teresa Immigration Consultant
2180 Jefferson St
Napa, CA 94559
(707) 255-8666
Immigration Law Attorneys, Immigration & Naturalization Consultants, Attorneys
James V. Jones Law Offices
1564 1st St
Napa, CA 94559
(707) 252-8644
Attorneys,  Criminal Law Attorneys,  Family Law Attorneys,  DUI & DWI Attorneys,  Personal Injury La
Munkelt Stephen A
206 Providence Mine Rd Suite 218
Nevada City, CA 95959
(530) 265-8508
Attorneys, Criminal Law Attorneys
Day Richard V
587 Jefferson St
Napa, CA 94559
(707) 253-8500
Bankruptcy Law Attorneys,  General Practice Attorneys,  Estate Planning Attorneys,  Bankruptcy Servi
Murphy Logan & Bardwell
2350 1st St
Napa, CA 94559
(707) 257-8100
Wills, Trusts & Estate Planning Attorneys,  Attorneys,  Family Law Attorneys,  Business Law Attorne
Matthew Bishop
1030 Seminary St
Napa, CA 94559
(707) 258-8090
General Practice Attorneys, Attorneys, Legal Service Plans
Zeller Robert H
929 Randolph St
Napa, CA 94559
(707) 509-8082
Attorneys
Elliott Joyce
1250 Main St
Napa, CA 94559
(707) 255-8055
Attorneys,  Child Custody Attorneys,  Family Law Attorneys,  Divorce Attorneys
Lewis & Blevans Llp
1005 Coombs St
Napa, CA 94559
(707) 226-8009
Divorce Attorneys, Family Law Attorneys, Attorneys
Goodman Grace
1114 Franklin St
Napa, CA 94559
(707) 253-8005
Attorneys, Legal Service Plans
Ellen York
822 Brown St
Napa, CA 94559
(707) 224-7971
Attorneys, Probate Law Attorneys, Wills, Trusts & Estate Planning Attorneys
York & York
822 Brown St
Napa, CA 94559
(707) 224-7971
Estate Planning Attorneys, Attorneys
Richert Scott
505 Coyote St
Nevada City, CA 95959
(530) 265-7800
Small Business Attorneys, Business Law Attorneys, Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US