The Essential Limited Liability Company Handbook: The Newest Alternative in Business (Psi Successful Business Library)

The Limited Liability Company (LLC) is one of the most exciting developments in modern business history - and one of the most eagerly awaited. Combining the tax advantages of a partnership with the personal debt protection of a corporation, LLCs are now encouraged in all states except Hawaii, Massachusetts and Vermont. Many believe this innovative structure may replace general and limited partnerships, joint ventures, and S corporations in time. Learn how to set up an LLC or how to convert an existing business. Be able to discuss specific features confidently with legal and accounting professionals. Although laws vary from state to state, LLCs typically offer a wide range of benefits over other business forms, including:
No corporate taxes
Personal assets are protected from creditors and legal judgments
Owners decide how to divide income and tax liabilities
Profit and loss allocations may be changed from year to year to fit the individual tax needs of owners
Ownership is virtually unrestricted
The book includes easy-to-understand explanations of legal and financial concepts concerning LLCs. The questions most frequently asked by entrepreneurs and small business owners are answered. Along with state-by-state details and sources of additional state information, you'll find samples of certificates of information and operating agreements.

The Essential Limited Liability Company Handbook: The Newest Alternative in Business Organization was written by a team of small business experts at Corporate Agents, Inc., of Wilmington, Delaware. Corporate Agents and its affiliated companies have been providing corporate services to the legal, financial and entrepreneurial communities since 1899.