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Home > Learning Center > Business Entities Explained > Limited-Liability Company Tutorial
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Business Entities Explained  
Limited-Liability Company Tutorial  
How does an LLC protect principals from Business Liability?  

Since the LLC statutes were created more recently than the corporation statutes, a business structured as a Limited Liability Company offers many more advantages for the principals:

  • No Member or Manager liability for LLC debts.  more
  • Member cannot be served in action against LLC. more
  • One person can operate LLC with minimal IRS requirement.  more
  • Tax options: Partnership, C-Corp, S-Corp or Sole Proprietor. more
  • "Charging Order" is exclusive remedy for creditor of member. more
  • Member can pass "phantom income" to creditor.  more
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