eHow launches Android app: Get the best of eHow on the go.
The way you start a limited liability company in the United States is by incorporating the company in a state. You may choose the state you want to incorporate in. The limited liability company, or LLC, does not have to operate in a state in order to be incorporated in that state. After you incorporate your company as an LLC, your... more »
With the recent popularity boom in self-employed workers and residual income home-based businesses, there has been a substantial demand for individuals to form limited liability companies, or LLCs. Fortunately, the process has been radically streamlined for those of us who want start a business, but don't know how to file the... more »
In simplest terms, a lien is a financial claim you hold against someone else’s real property. Because of your claim, the owner of this property cannot sell or transfer title to the property to anyone else until your financial claim is satisfied. The most commonly discussed lien is the mechanic’s lien that protects... more »
Learning how to pay no taxes is of importance to nearly anyone who groans under the ever increasing tax burdens American residents must bear. Although a complete freedom from tax payments requires a total lifestyle change, there are also other ways of paying no taxes or greatly reducing your tax liability. more »
State laws of incorporation provide the rules and guidelines for companies doing business within the state. State laws also govern the process by which a business files for corporate status. States specify in the rules how many people must be included in the filing, what their roles are, how to sell shares in the company and where the... more »
Companies that would otherwise start up as a sole proprietorship, partnership or corporation can opt to become a limited liability company (LLC).... more »
A limited liability company (LLC) is a type of business arrangement that affords small businesses some of the benefits that large corporations... more »
The main advantages of a limited liability company—as opposed to a sole proprietorship or partnership—are those implied in the title itself: In... more »
One of the biggest risks of starting a small business is losing all of one's personal assets if the business incurs debt. The solution in recent... more »
A limited liability company (LLC) has the benefit of being treated like a corporation when it comes to having no personal liability in the face of... more »
A limited liability company or A company with limited liability (abbreviated L.L.C. or LLC or W.L.L) in the law of the vast majority of United States jurisdictions is a legal form of business company that provides limited liability to its owners. Often incorrectly called a "limited liability corporation" (instead of company), it is a hybrid business entity having certain characteristics of both a corporation and a partnership or sole proprietorship (depending on how many owners there are). An LLC, although a business entity, is a type of unincorporated association and is not a corporation. The primary characteristic an LLC shares with a corporation is limited liability, and the primary characteristic it shares with a partnership is the availability of pass-through income taxation. It is often more flexible than a corporation and it is well-suited for companies with a single owner.
It is important to understand that limited liability does not imply owners are always fully protected from personal liabilities. Courts can and do pierce the corporate veil of LLCs when some type of fraud or misrepresentation is involved, or under certain situations where the owner uses the company as an "alter ego."Bernstein Law Firm,
Terminology
;Member: LLC members are the owners of the LLC as much as shareholders are the owners of a corporation or the partners of a partnership. Like shareholders, a members liability to repay the LLCs obligations is limited to his or her capital contribution. Members may be natural persons, corporations, partnerships, or other LLCs.
;Membership Interest: A members ownership interest in an LLC is often called a membership interest. Membership interests are often divided into standardized units which, in turn, are often called shares or units. Unless otherwise provided for in the operating agreement, a members right to receive distributions or exercise member rights over the LLC is proportionate to their membership interest. read more at » http://en.wikipedia.org/wiki/Limited+liability+company
Connect with people who share your interest by joining one of our Groups:
How to Get Fired Gracefully
How to Stop a Shopaholic
How to Drive Defensively During the Holidays
Wonders of the World
Copyright © 1999-2009 eHow, Inc. Use of this web site constitutes acceptance of the eHow Terms of Use and Privacy Policy. en-US Portions of this page are modifications based on work created and shared by Google and used according to terms described in the Creative Commons 3.0 Attribution License.
