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LLCs and Limited Liability Protection
Like many business owners just starting out, you might find yourself in this quandary about liability issues: On one hand, having to cope with the risk of personal liability for business misfortunes scares you; on the other, you would rather not deal with the red tape of starting and operating a corporation.
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LLC Versus S Corporation Taxation
LLC Taxation Like a sole proprietorship or a partnership, an LLC is not a separate tax entity from its owners; instead, it’s what the IRS calls a “pass-through entity.” This means the LLC itself does not pay any income taxes; instead, income passes through the business to each LLC owner, who pays taxes on the share of profit (or deducts the share of losses) on the own
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Learn the differences between an LLC and corporation so you can make the best choice for your business and circumstances.
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Form your own limited liability company online today with this comprehensive online LLC package.
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Nolo's LLC Operating Agreement for Single-Member LLC
This online form provides everything you need to establish the internal rules of your single-member limited liability company.