LLC – Limited Liability Company
Zier Law Offices LLC assists many types of business organizations from start-ups to substantial corporations. Legal guidance for setting up your business involves a number of steps, all of which are important and should not be overlooked. Rick Zier wants you to have all the information you need to select the best form of business structure for your endeavor.
- Simple creation process
- Easy to operate and dissolve
- Substantial liability protection for member
- No separate tax return
- No double taxation on profits
- Transfer of ownership can be complex
- Self-employment tax is assessed on entire profit of business
- Regular reporting to government agencies is required
- Qualification is required for doing business in other states
The above paragraphs contain general information regarding advantages and disadvantages of different business structures. They are intended only to give you a broad idea of the categorical differences between and among those structures. Always speak with a well-qualified business attorney and your accountant before making specific decisions about your personal affairs.