The advantages are: It allows complete pass-through tax advantages Operational flexibility of a partnership Corporation-style limited liability (under state law) Management participation by all members The disadvantages are:
Because of the newness of LLCs, many issues are yet unsettled Some states do not sanction LLCs There are restrictions on transferring membership interests
LIMITED LIABILITY COMPANY (LLC)
TOPIC
CORPORATION (“C” or “subchapter S”) Ts thoec kbhuos li dneersss-aonwdniet rss a r e sbeupsai nr ea st es ei snat i ltei egsa. l Tuhnei t u n t o iotws enl f n, caampea balnedorf iagchtti.n g i n i t s Ba sussei tnseas rs ea enndt pi reerl ys osneapla r a t e . Ls ui mb si tcer di pttoi oann lyi aubni lpi tai ieds si tno c k as pb es ec inacl ec iorfc furma usdt aonrc eost h. e r Sd hi vai rdeedn di nsddi reeccl at lrye tdhbr oy u g h da pi rpeocrt ot irosnoeudt aomf po rnogf itthsea n d outstanding shares of stock. Ap a“yr se gt auxl aor n” ci tosr ipnocroamt i oe na s a sc eo pr pa or ar taet i toanx -t pa ax ya bi nl eg iennctoi tmy . eS (itlsosssh)airseahpopldoerrtsio. ned among
Ts thoec kbhuos li dneersss-aonwdniet rss a r e sbeupsai nr ea st es ei snat i ltei egsa. l Tuhnei t u n t o iotws enl f n, caampea balnedorf iagchtti.n g i n i t s Ba rues iennet si rs eal yn ds eppearrsaotne a. l a s s e t s Na bospe ne rcseoonfaflrlai ua bdi ol i rt yo, tihne r special considerations. BOyr gfai lni ni zgaAt irotni cwl eist ho ft h e at hpepnl i ca anbol ewSneecrrsehtiapr y o f S t a t e , agreement. Mp reomf i tbsear ns dd el ot es rsme si nwei lhl obwe distributed.
Relationship of Owner to Business
Liability of Owner for Firm Debts
Creation and Organization Bauytchoonrsizeanttioanndof state law afoftremracloitmiepsl.iance with the
Sharing of Profits
Taxation ApanyLinLgC eisntniotyt;aitspeproavraidtee,stax- ptoasosw-tnherrosu. gh tax treatment Period of Life Pt eerrmp es toufacl ,huanr tl ee sr s, bl iym- l iat we ds , boyr Pt eerrmp es toufaAl , rut inclleesss. l i m i t e d b y
MOLLY MAID Right Start Transfer Manual Copyright 2015, Molly Maid, Inc.
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