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Many people are surprised to learn that the LLC business entity is a fairly recent phenomenon. Wyoming was the first state to legislate the creation of LLCs in 1977. Most states didn’t jump on the LLC bandwagon until 1988 when the IRS classified the LLC as a pass through entity for tax purposes. This ruling turned LLCs into the popular monster
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This newly created entity within the United States has been
around for many years in other countries. It is commonly used in
Germany, in fact. But, what is LLC? How does it work and why is
it a benefit to you or to others who use it? There are some
things to consider prior to getting involved with a limited
liability company.
First, knowing what an
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"S Corporation or LLC?" is a common question for new business
owners. I have several people call me each week asking this.
I always tell them the question is impossible to answer. And
here's why. An LLC is chameleon for income tax purposes.
Therefore, an LLC can be anything the owner or owners (who are
called members) want the LLC to be--including an S corporation.
An LLC
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Thousands of free legal forms are now available on Shpoonkle to help consumers and lawyers find the right form in one place.Miami, Florida (PRWEB) January 16, 2012 Shpoonkle is now offering free legal forms, free legal information, and a directory of legal professionals from the United States and Canada. Shpoonkle is a legal services marketplace with centralized resources that are free to anyone ...
Mon, 16 Jan 2012 00:11:31 -0800
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