DISCLAIMER: This In Brief section offers a series of business, real estate, employment, estate planning and tax bulletins prepared by the attorneys at Fauver, Large, Archbald & Spray, LLP. This is not exhaustive, nor is it legal advice. You should discuss your particular situation with us or with your own attorney. Our legal representation is only undertaken through a written engagement letter and not by the distribution or use of this information.
Q: What is an LLC?
An LLC, or Limited Liability Company, is one way to structure a business. Having an LLC offers multiple benefits that can include pass-through taxes and flexibility. Many small business owners choose an LLC because it can offer legal protection from personal liability. For example, personal assets may not be at risk in the case of bankruptcy or lawsuit.It is best to consult legal and tax experts before deciding on any business structure when first starting a business.