Limited Liability Company Center FAQs (Frequently Asked Questions)
- What does LLC stand for?
- What are the advantages of an LLC?
- What are the disadvantages of an LLC?
- How do the benefits of an LLC compare to an S Corporation?
- How does an LLC compare to a corporation?
- What is a Single Member LLC?
- What is a Series LLC?
- Single Member Limited Liability Companies with Employees
- Single Member LLC or Multiple Member LLC?
- Converting a General Partnership to a Limited Liability Company
- Should Your LLC Elect to be Treated as an S Corp?
- Does My Single Member LLC Need Its Own EIN?
- Seven Steps to Protect Your LLC
- Charging Order Protection
- Can a Non-Resident of the U.S. Own an U.S. LLC?
- What is a Registered Agent?
These FAQs were provided by David K. Staub, a Chicago business lawyer and frequent writer and speaker on limited liability companies. The site is for educational and informational purposes only and does not constitute legal advice. The information which is presented here is intended to make limited liability companies easier to understand, but weighing the tax, liability and operations issues requires a thorough understanding of the applicable law and cases. Anyone contemplating forming a limited liability company is urged to obtain proper legal advice.