A limited liability company (LLC) provides the same benefits to members as shareholders have in a corporation.
An LLC is formed by submitting Articles of Organization to the Secretary of State.
- Income you receive as a member is taxed as an individual (no double taxation like a corporation).
- See a CPA/tax consultant for the tax ramifications of starting your business as an LLC.
LLC Member Liability
The members are only liable for the amount of money or assets they have invested in the LLC.