Florida Limited Liability Company With Shares
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FAQ
The IRS rules restrict S corporation ownership, but not that of limited liability companies. IRS restrictions include the following: LLCs can have an unlimited number of members; S corps can have no more than 100 shareholders (owners).
The word limited here refers to the shareholders limited liability. They are only responsible for any company debts up to the value of their shares within that company. No personal assets are at risk.
It is possible to have multiple classes of equity in an LLC. In a real estate LLC, for example, you may have an actively managing member and other passive participants. The managing member may have more voting rights than the passive members.
The term member refers to the individual(s) or entity(ies) holding a membership interest in a limited liability company. The members are the owners of an LLC, like shareholders are the owners of a corporation. Members do not own the LLC's property.