RE:RE:RE:RE:RE:RE:Money is in the bank -- Latest PRHi Misbrandt,
Thanks for the info... I just checked llc Information in Investopedia very Interesting legal entity
Understanding Limited Liability Companies (LLCs)
Limited liability companies (LLCs) are a business structure that is allowed under state statutes. The regulations surrounding LLCs vary from state to state. LLC owners are generally called members.
Many states don't restrict ownership, meaning anyone can be a member including individuals, corporations, foreigners and foreign entities, and even other LLCs. Some entities, though, cannot form LLCs, including banks and insurance companies.
An LLC is a more formal partnership arrangement that requires articles of organization to be filed with the state. An LLC is much easier to set up than a corporation and provides more flexibility and protection.
LLCs don't pay taxes. Instead, profits and losses are listed on the personal tax returns of the owner(s). If fraud is detected or if a company hasn't met legal and reporting requirements, creditors may be able to go after the members.