Rights and responsibilities of LLC members Members of llc The limited liability corporation (LLC) is the choice of many small business owners due to the liability protection, managerial flexibility, and tax benefits this type of business entity frequently offers. Because of the simplicity of operating an LLC as compared to a corporation, many entrepreneurs opt for it when they first launched their […]

How long does it take to form an llc How long does it take to form a llc in your state? A limited liability company (LLC) is a type of entity that provides limited liability protection and pass-through taxation. Like corporations, LLC owners are considered separate persons from LLC’s legal existence. As a result, owners are

Piercing the Corporate Veil: Understanding the Limits of LLC Protection   Understanding definition of an llc can help business owners to stay immune to the creditors but the protection by LLC can disappear if business owners do not follow certain important rules. Here is what you need to know that how and when the LLC protection can be breached and what

NIL: Setting Up an LLC and 501c3 for Student-Athletes Athletes in colleges can now take advantage of their likeness, name and image. One such shining example of profiting from a bright name, image and likeness is lacrosse champ Charlotte North. She capitalized her popularity as an athlete in college by creating LLC and filing for trademark of her brand.   Now

Is a Partner in an LLC an Employee?     Normally a partner within an LLC is not considered an employee. However, the members who become employees of LLC through employment agreement then they can be considered employees as well as partners.  In a Limited Liability Company individuals officially and legally form a legal entity to conduct business activities. But

LLC asset protection: How to protect your personal assets as an LLC owner Establishing an LLC can protect personal assets of the owners but in order to ensure the personal protection, it is important to take certain important steps.  Formation of an LLC is the first step towards security of personal assets, which people face when they are

Making The Decision – Member-Managed LLC Vs. Manager-Managed LLC LLC Officer Titles Explained Understanding LLC titles of owners can be confusing. Learn more about each type of title and discover which one might suit your business best today. When starting an LLC, it is important to understand the title designations that are specifically for LLCs. This makes it

Is a business license needed to form an LLC?  It is not necessary to have a license in order to start an LLC but the requirements may vary based on the location and nature of business. There are some important steps that LLC owners must take in order to properly establish a sound and strong LLC.  Can you have

How to Pay Yourself in an LLC LLC owners have different options of paying themselves but each one comes with some implications of taxes. Forming LLC is the best option to save oneself from liabilities and protect the personal assets.  There are two simple ways to pay yourself when you are related to any LLC. You have

Do you need to remove a member from your LLC? Here is a comprehensive guide on how to do so with the easiest and most efficient approach.Removing a member from LLC is a challenging task for every owner. When a member is leaving the LLC voluntarily then it’s an easy process but when the member is