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 97015

Structural Advantages of a Limited Liability Company (LLC) in Zip Code 97015


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 OR 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 OR 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 97015
Shikany James
13100 SE Sunnyside Rd Ste B
Clackamas, OR 97015
(503) 698-9808
Attorneys, Legal Service Plans
Daniel T Garner Bankruptcy Attorney
10121 SE Sunnyside Rd Suite 300
Clackamas, OR 97015
(503) 820-9359
Bankruptcy Law Attorneys,  Bankruptcy Services,  Attorneys,  Financial Services,  General Practice A
Bell Law Offices P.C.
10121 SE Sunnyside Rd Suite 300
Clackamas, OR 97015
(503) 479-8198
Attorneys,  Personal Injury Law Attorneys,  Employee Benefits & Worker Compensation Attorneys,  Auto
Gibson & Duffy
10121 SE Sunnyside Rd # 325
Clackamas, OR 97015
(503) 659-7443
Attorneys
Perkins Law Office
10121 SE Sunnyside Rd Ste 240
Clackamas, OR 97015
(503) 342-6890
General Practice Attorneys, Attorneys, Legal Service Plans
Oliveros & O'Brien
9200 SE Sunnybrook Blvd #150
Clackamas, OR 97015
(503) 505-6526
Attorneys, Sexual Harassment Attorneys, Criminal Law Attorneys
Robbins Law Oregon LLC
10121 SE Sunnyside Rd., Ste. 300
Clackamas, OR 97015
(503) 232-5934
Attorneys,  Family Law Attorneys,  Divorce Attorneys,  Personal Injury Law Attorneys,  General Pract
Moore Jensen & Lesh
10121 SE Sunnyside Rd Ste 300
Clackamas, OR 97015
(503) 653-5608
Attorneys,  Labor & Employment Law Attorneys,  Social Security & Disability Law Attorneys,  Personal
Amanda Stanley
10121 SE Sunnyside Rd, Ste 300
Clackamas, OR 97015
(503) 496-5165
Attorneys, General Practice Attorneys, Legal Service Plans
Schnidrig Veronica
10365 SE Sunnyside Rd Ste 240
Clackamas, OR 97015
(503) 698-4911
Attorneys, Legal Service Plans
Kenneth L Baker
10365 SE Sunnyside Rd
Clackamas, OR 97015
(503) 698-4900
Attorneys,  Family Law Attorneys,  Divorce Attorneys,  Real Estate Attorneys,  Bankruptcy Services,
Brasier Law
10365 SE Sunnyside Rd Ste 200
Clackamas, OR 97015
(503) 855-4777
Family Law Attorneys, Attorneys, Legal Service Plans
O'Brien Michael
9200 SE Sunnybrook Blvd # 150
Clackamas, OR 97015
(503) 278-4523
Attorneys
Dolton Robert G
13100 SE Sunnyside Rd
Clackamas, OR 97015
(503) 698-4444
Attorneys,  Accident & Property Damage Attorneys,  General Practice Attorneys,  Legal Service Plans,
Zook Hunter
9200 SE Sunnybrook Blvd # 150
Clackamas, OR 97015
(503) 786-3800
Attorneys
Knox William C
9200 SE Sunnybrook Blvd # 150
Clackamas, OR 97015
(503) 786-3800
Attorneys
Cohen Rich
9200 SE Sunnybrook Blvd # 430
Clackamas, OR 97015
(503) 231-3419
Attorneys, Legal Service Plans
Jennifer Betts
9200 SE Sunnybrook Blvd
Clackamas, OR 97015
(503) 212-2015
Adoption Law Attorneys,  Attorneys,  Family Law Attorneys,  Legal Clinics
Shields Gayle A
13100 SE Sunnyside Rd Ste A
Clackamas, OR 97015
(503) 274-1603
Attorneys, Corporation & Partnership Law Attorneys, Legal Service Plans, Employee Benefits & Worker
Borden Gary
10121 SE Sunnyside Rd Ste 300
Clackamas, OR 97015
(503) 261-1335
Attorneys
Oliveros & O'Brien PC
8800 SE Sunnyside Rd Ste 213
Clackamas, OR 97015
(503) 786-1181
Attorneys
Sunderland Brian
10121 SE Sunnyside Rd Ste 300
Clackamas, OR 97015
(503) 353-0400
Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US