Quick Limited Liability Company Facts

May be run by all of the Members equally, by an elected Committee of Members, by an elected group of Managers or a single Member

In a Member-Managed LLC, all members participate equally and can bind the company

In a Manager-Managed LLC, members are passive and only Managers can bind the business

Members’ financial liability to the LLC is limited to the amount of their investment
Members and Managers are indemnified against the acts, deeds and debts of the LLC unless they commit fraud, breach of fiduciary duty or criminal activities through the LLC.

No restrictions on the number or location of owners; however, non-U.S. residents are required to have tax withholdings made on distributions of income before the money leaves the U.S.

Elects how it will be taxed

There are many variables when you’re structuring a business. That’s why it’s hard to go through a quick-service website. Unless you talk to someone who’s got some knowledge and experience on both the tax and the legal side, it’s hard to know what you don’t know. And that can leave you vulnerable.

Got questions? Contact us! We’re here for you.

Related posts:

Leave a Reply