The National Directory of Certified Public Accountants

Ask A CPA - Limited Liability Entities

1. Are the LLC owners liability limited?

2. Are there citizen requirements for LLC's?

3. Can a LLC be owned by another business?

4. Does a LLC report its profit or loss on its personal tax return?

5. How does a Single Member LLC file its tax return?

6. Is there a limit on the number of owners a LLC has?

7. What are some advantages and disadvantages of selecting to be a (LLC) Limited Liability Company compared to other entities?

8. What are the differences between an limited liability company and an S corporation ?

9. What is a LLC?

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