Benefits

• An LLC enjoys the benefits of being taxed like a sole proprietorship while only possessing limited liability like a corporation.
  
  

Compared to Corporations

• Unlike traditional corporations, an LLC does not have to continuously meet certain requirements and criteria to remain an LLC.
  
  

Ownership

• Another great benefit of an LLC is that it allows for multiple owners. In addition, there is normally a specifically assigned managing member who runs the daily operations of the business.
  
  

Considerations

• Many would-be investors are still uncertain about the LLC business structure since it is a relatively new system (1977). As a result, incorporating your business using the traditional method may help to attract more conventional investors.
  
  

Summary

• Essentially, a LLC provides the owners with a flexible tax structure while shielding them from sole liability. It is a great way for a business owner to maintain his flexibility as a business without risking his livelihood in regards to liability.