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 31296

Structural Advantages of a Limited Liability Company (LLC) in Zip Code 31296


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 GA 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 GA 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 31296
Para Net Corp Svc
3675 Crestwood Pkwy NW # 350
Duluth, GA 30096
(770) 497-9977
Paralegals
Luther Kenneth
3885 Crestwood Pkwy NW # 550
Duluth, GA 30096
(770) 426-9889
Real Estate Attorneys, Attorneys, General Practice Attorneys
The Sandberg Law Firm
3820 Satellite Blvd # 201
Duluth, GA 30096
(404) 827-9799
Bankruptcy Law Attorneys, Credit & Debt Counseling, Bankruptcy Services
The Zdrilich Law Group
3235 Satellite Blvd # 400
Duluth, GA 30096
(770) 931-9604
Family Law Attorneys, Attorneys, Legal Service Plans
The DiGiulio Law Firm
3235 Satellite Blvd
Duluth, GA 30096
(770) 309-9551
Bankruptcy Law Attorneys, Bankruptcy Services
Waters Matthew
8653 S Marcus St
Wrightsville, GA 31096
(478) 864-9370
Attorneys, Legal Service Plans
Dong Jing
2700 N Berkeley Lake Rd NW
Duluth, GA 30096
(678) 335-9339
Attorneys, Immigration Law Attorneys
Bonnie Youn
4720 Peachtree Industrial Blvd
Duluth, GA 30096
(770) 622-9011
Corporation & Partnership Law Attorneys, Immigration Law Attorneys
Debtstoppers Bankruptcy Law Firm
3555 Koger Blvd
Duluth, GA 30096
(404) 920-8965
Bankruptcy Law Attorneys,  Attorneys,  General Practice Attorneys,  Legal Service Plans
Morrow John Michael
3675 Crestwood Pkwy NW
Duluth, GA 30096
(770) 813-8614
Family Law Attorneys, Attorneys, Legal Service Plans
Stephen Wolfe-Spalding Co
3145 Saint Andrews Way
Duluth, GA 30096
(770) 497-8286
Bankruptcy Law Attorneys
Day & Royal
3175 Satellite Blvd Ste 600
Duluth, GA 30096
(770) 814-8022
Family Law Attorneys, Attorneys, Legal Service Plans
Coleman Debra
7434 McElroy Dr
Riverdale, GA 30296
(770) 991-7800
Attorneys
Hunter Law LLC
3235 Satellite Blvd
Duluth, GA 30096
(770) 363-7764
Attorneys, Bankruptcy Law Attorneys
Alexander, Richard T
4197 Pleasant Hill Rd
Duluth, GA 30096
(770) 416-7700
Personal Injury Law Attorneys, Legal Service Plans, Attorneys
Morris Hardwick Schneider Gwinnett Wieland
2933 Pleasant Hill Rd
Duluth, GA 30096
(770) 232-7427
Real Estate Attorneys
The Shirley Law Firm
PO Box 2315
Duluth, GA 30096
(678) 763-7202
Wills, Trusts & Estate Planning Attorneys,  General Practice Attorneys,  Collection Law Attorneys,
Jim R. Green, P.c.
3847 Sweet Bottom Dr
Duluth, GA 30096
(404) 692-6360
Personal Injury Law Attorneys
Huff Roger
3675 Crestwood Pkwy NW # 250
Duluth, GA 30096
(770) 935-6281
Attorneys
Wang & Associates
3296 Summit Ridge Pkwy
Duluth, GA 30096
(770) 495-5906
Administrative & Governmental Law Attorneys, Immigration Law Attorneys, Attorneys
Schrader Kathryn M
2405 Satellite Blvd #225
Duluth, GA 30096
(678) 475-5770
Attorneys,  Divorce Attorneys,  Arbitration & Mediation Attorneys,  Legal Service Plans,  Estate Pla
Hartz James P
614 Paces Commons Dr
Duluth, GA 30096
(678) 789-5737
Immigration Law Attorneys
Team Inc
3575 Koger Blvd
Duluth, GA 30096
(770) 923-4964
Criminal Law Attorneys
Thomson Richard H
3483 Satellite Blvd
Duluth, GA 30096
(770) 232-4649
Bankruptcy Law Attorneys, Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US