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3. File your LLC in other states. When you first get an LLC in your home state, you establish what's known as a "state of formation" or "domestic state," which is essentially your business' home base.
An LLC is a type of unincorporated association, distinct from a corporation. The primary characteristic an LLC shares with a corporation is limited liability, and the primary characteristic it shares with a partnership is the availability of pass-through income taxation. As a business entity, an LLC is often more flexible than a corporation and ...
There are a number of legal benefits that come with incorporation. One significant legal benefit is the protection of personal assets against the claims of creditors and lawsuits. Sole proprietors and general partners in a partnership are personally and jointly responsible for all the legal liability (LL) of a business such as loans, accounts payable, and legal
The articles of organization document typically includes the name of the LLC, the type of legal structure (e.g. limited liability company, professional limited liability company, series LLC), the registered agent, whether the LLC is managed by members or managers, the effective date, the duration (perpetual by default in most states), and the ...
Tax benefits: People who incorporate as LLCs to buy a house can take advantage of a number of tax benefits. Most prominently, LLCs offer a type of pass-through tax structure that eliminates double ...
Big-time companies -- like Starbucks , Google, and GE -- are organized as corporations. But what about your home-based business? Well, it's definitely something to consider. For example, suppose ...