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 Baden, PA

Structural Advantages of a Limited Liability Company (LLC) in Baden, 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 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 PA 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 Baden, PA
Jamie A Dench
410 Jefferson Ave
Scranton, PA 18505
(570) 558-9987
Accident & Property Damage Attorneys, Attorneys, Legal Service Plans
George M Freed PC
2616 Wilmington Rd
New Castle, PA 16105
(724) 657-9830
Attorneys,  Corporation & Partnership Law Attorneys,  Business Law Attorneys,  Personal Injury Law A
George M. Freed
2616 Wilmington Rd
New Castle, PA 16105
(724) 657-9830
Personal Injury Law Attorneys, Attorneys, Corporation & Partnership Law Attorneys
NYCE E Kenneth Attorney
342 Franklin Rd
Bechtelsville, PA 19505
(610) 367-9283
General Practice Attorneys, Attorneys
Arjont Group Roger Traversa
PO Box 1932
Philadelphia, PA 19105
(215) 279-8940
Attorneys, Legal Service Plans
Strandquest Charles
715 Tioga St
Johnstown, PA 15905
(814) 536-8642
Attorneys, Legal Service Plans
Virginia Shenkan Law Center
2712 Carlisle St
New Castle, PA 16105
(740) 346-7777
General Practice Attorneys, Attorneys
Kwak Law Firm
796 N Pennsylvania Ave
Wilkes Barre, PA 18705
(570) 825-7070
Attorneys,  Labor & Employment Law Attorneys,  Social Security & Disability Law Attorneys,  Accident
Krkuc Perkins Jean K
2109 Wilmington Rd
New Castle, PA 16105
(724) 856-7007
Criminal Law Attorneys, Attorneys, Family Law Attorneys
Spielman Robert
14 Spruce Ave
Plains, PA 18705
(800) 675-6874
Bankruptcy Law Attorneys, Attorneys, Legal Service Plans
Seelinger Law
4640 Wolf Rd
Erie, PA 16505
(814) 824-6670
Bankruptcy Law Attorneys, Attorneys, Criminal Law Attorneys
Pagliari Melissa L
1353 W 6th St
Erie, PA 16505
(814) 456-6144
Divorce Attorneys, Attorneys, Legal Service Plans, Family Law Attorneys
Sapienza Charles
1401 Wilmington Ave
New Castle, PA 16105
(724) 654-5950
Corporation & Partnership Law Attorneys,  Attorneys,  General Practice Attorneys,  Legal Service Pla
Munley Julia K
672 N River St # 310
Wilkes Barre, PA 18705
(570) 824-5599
Attorneys Referral & Information Service, Attorneys, General Practice Attorneys
Barilla Shaw LLP
111 W Sheridan Ave
New Castle, PA 16105
(724) 654-5549
Attorneys, Criminal Law Attorneys, Family Law Attorneys, Social Security & Disability Law Attorneys,
Barilla Shaw Law Office
111 W Sheridan Ave
New Castle, PA 16105
(724) 654-5549
Social Security & Disability Law Attorneys, Attorneys, Family Law Attorneys, Accident & Property Dam
Mc Cormack Leo M
101 Mary Ln
Scranton, PA 18505
(570) 346-4944
General Practice Attorneys, Attorneys
Herbein Paul H
2601 Centre Ave
Reading, PA 19605
(610) 921-4545
General Practice Attorneys, Attorneys, Legal Service Plans
Minett Thomas W ESQ
2815 Wilmington Rd
New Castle, PA 16105
(724) 652-4084
Attorneys, General Practice Attorneys, Corporation & Partnership Law Attorneys, Legal Service Plans,
Reid Wayne P ESQ
2815 Wilmington Rd
New Castle, PA 16105
(724) 652-4084
Attorneys,  Legal Service Plans,  Accident & Property Damage Attorneys,  General Practice Attorneys
Wright Jean S
2817 Wilmington Rd
New Castle, PA 16105
(724) 652-4084
Attorneys
Hartman, Dallas W - Dallas W Hartman Pc
2815 Wilmington Rd
New Castle, PA 16105
(724) 652-4081
Consumer Law Attorneys,  Accident & Property Damage Attorneys,  County & Parish Government,  Persona
Nagy Law Offices
1161 Franklin St
Johnstown, PA 15905
(814) 539-3900
General Practice Attorneys, Attorneys, Legal Service Plans
Prince Law Offices Pc
646 Lenape Rd
Bechtelsville, PA 19505
(610) 845-3803
Attorneys, Labor & Employment Law Attorneys, Probate Law Attorneys, Corporation & Partnership Law At
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US