Llc Limited Liability Companies For Dummies
Description
How to fill out Resolution Of Meeting Of LLC Members To Borrow Money?
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FAQ
If you form an LLC, you will remain personally liable for any wrongdoing you commit during the course of your LLC business. For example, LLC owners can be held personally liable if they: personally and directly injure someone during the course of business due to their negligence.
The formation of an LLC broadly requires filing the ?articles of organization? which is a document including basic information like business name, address, members. The filing is done with the Secretary of State for most states and has an associated filing fee.
Limited liability means that the assets and debts of the business remain separate from the personal assets and debts of the company's owners. If a company goes bankrupt, creditors cannot therefore go after the owners' personal assets, just that of the business.
LLC names must include ?LLC? in the name ABC Limited Liability Company. ABC Limited Liability Co. ABC Limited. ABC L.L.C. ABC LLC. ABC Ltd.
A Limited liability company (LLC) is a business structure that offers limited liability protection and pass-through taxation. As with corporations, the LLC legally exists as a separate entity from its owners. Therefore, owners cannot typically be held personally responsible for the business debts and liabilities.
