Limited Liability Entities

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


Some advantages are that it avoids certain S corporation restrictions. It also avoids double taxation of profits.
Some disadvantages are that it is currently considered a relatively new business entity with little case law or regulatory law currently available.
There is inconsistent treatment from state to state. The entity must have at least 2 owners.
Speak to your local CPA about determining the best entity choice to fit your needs
Answer Provided by: CPAdirectory

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