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!
 
 

Advantages and Disadvantages of a Limited Liability Company (LLC) in Zip Code 70662

Advantages and Disadvantages of a Limited Liability Company (LLC) in Zip Code 70662


Grit is often the single-most predictor of success.
 
- Jonah Lehrer


A Limited Liability Company (LLC) is a legal business entity that combines the liability protection of a corporation, the operating flexibility of a Partnership, and the tax benefits of a sole proprietorship. Though the rules for forming an LLC vary by state, it is a popular option for many start-up businesses.

Advantages:

Limited Personal Liability and Exposure

One advantage of an LLC is the limited liability shield, which protects the personal assets of its members. Creditors, typically, cannot hold members personally responsible for the debts and liabilities of the business. Members can only be liable to the extent of their business investment.

Pass-through Taxation

Though there are an array of tax options for a Limited Liability Company; an LLC is generally treated as a "pass-through" entity. Profits and losses pass through the business to the members and are taxed at the personal level. The business itself is not taxed. Reporting is done on members' individual income tax returns. No double taxation with both the company and the owner(s) paying taxes on the earnings of the business.

Operational Flexibility & Simplicity

An LLC is much less formal than a corporation. Record keeping and administrative procedures are not as onerous. There are no quarterly and annual meetings, or tax filings. Neither is there a board of directors.

Legitimacy

Registering a company as an LLC adds credibility to a business, and can help in brand building and marketing to potential clients and suppliers. In addition, the company can enter into contracts on its own, and also acquire property.

Disadvantages:

Higher Fees

An LLC typically pays higher filing fees compared to some other business entities or sole proprietorships. Additionally, some states require annual renewal fees or franchise taxes. It is difficult for an LLC to attract additional investment because the company does not have the ability to issue stocks and bonds. Members have to finance its business activities, or take in private investors. Getting a loan can be tough, especially for small and start-up companies. The company may have to use its business, or personal, assets to guarantee business loans.

Fewer fringe benefits

Employees of an LLC who receive fringe benefits, for example, medical insurance and parking, must treat these benefits as taxable income. This is also true for employees who own more than 2% of an S-corporation. However, employees of a C-corporation do not have to report fringe benefits as taxable income.
 
Personalize & Print a Free LA 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 LA 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 70662
Simone Stephen J
1824 Williams Blvd
Kenner, LA 70062
(504) 834-8478
General Practice Attorneys, Attorneys
Smith Christopher
2000 Maryland Ave
Kenner, LA 70062
(504) 469-7330
Attorneys,  Criminal Law Attorneys,  Family Law Attorneys,  Social Security & Disability Law Attorne
Christopher M Smith
1942 Williams Blvd
Kenner, LA 70062
(504) 469-7330
Social Security & Disability Law Attorneys, Attorneys, Criminal Law Attorneys, Family Law Attorneys,
Ippolito Frank D
2201 Williams Blvd
Kenner, LA 70062
(504) 467-7226
Accident & Property Damage Attorneys,  Attorneys,  General Practice Attorneys,  Legal Service Plans
Ippolito Frank D
2201 Williams Blvd
Kenner, LA 70062
(504) 467-7226
General Practice Attorneys, Attorneys, Accident & Property Damage Attorneys
Anne Dennis Refuge
2405 Reverend Richard Wilson Dr
Kenner, LA 70062
(504) 467-6789
Real Estate Attorneys
Bruno Stephanie M
1354 Carroll St
Kenner, LA 70062
(504) 561-6776
Attorneys
Fletcher & Roy
7000 False River Rd
Oscar, LA 70762
(225) 627-5401
Attorneys, Legal Service Plans
Pardue Jr Hobart
31514 Carter Cemetery Rd
Springfield, LA 70462
(225) 294-5138
Attorneys,  Accident & Property Damage Attorneys,  General Practice Attorneys,  Legal Service Plans
Toledo, Marina
1101 Veterans Memorial Blvd
Kenner, LA 70062
(504) 467-4787
Administrative & Governmental Law Attorneys, Immigration Law Attorneys, Attorneys
Stephens Liliana L
2001 Veterans Memorial Blvd
Kenner, LA 70062
(504) 712-4747
General Practice Attorneys, Attorneys
Aimee C Vallot
908 Williams Blvd
Kenner, LA 70062
(504) 469-4358
Attorneys, Legal Service Plans
Pardue DeVan
23950 Coates Rd
Springfield, LA 70462
(225) 294-4002
General Practice Attorneys, Attorneys
Elias Miguel
2301 Williams Blvd
Kenner, LA 70062
(504) 469-3300
Attorneys, General Practice Attorneys
Floyd Marion D
2214 Reverend Richard Wilson Dr
Kenner, LA 70062
(504) 467-3010
Attorneys, Legal Service Plans
Robare, Gerald M
2820 Williams Blvd
Kenner, LA 70062
(504) 469-2500
Attorneys
Ardoin Julie
2200 Veterans Memorial Blvd # 210
Kenner, LA 70062
(504) 305-2375
Attorneys, Legal Service Plans
Pourciau Law Firm
2200 Veterans Memorial Blvd Ste 210
Kenner, LA 70062
(504) 305-2375
Attorneys,  Accident & Property Damage Attorneys,  Personal Injury Law Attorneys,  Environment & Nat
Toney Law Office
2214 Reverend Richard Wilson Dr
Kenner, LA 70062
(504) 465-2206
General Practice Attorneys, Civil Litigation & Trial Law Attorneys, Attorneys
Kytle Kevin G
914 Williams Blvd
Kenner, LA 70062
(504) 469-1200
Attorneys,  Accident & Property Damage Attorneys,  General Practice Attorneys,  Legal Service Plans
Alfortish Sean D
525 Clay St
Kenner, LA 70062
(504) 704-1194
Attorneys, Legal Service Plans
Bohannan Rogers & Associates
1201 Williams Blvd
Kenner, LA 70062
(504) 468-1100
Family Law Attorneys,  Attorneys,  Personal Injury Law Attorneys,  Estate Planning Attorneys,  Divor
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US