Limited Liability Companies (LLCs)

A Limited Liability Company (LLC) is a flexible business structure that combines the benefits of personal liability protection with simplicity in management and taxes. Owners, called members, are generally not personally responsible for the company's debts or legal issues, limiting their risk to what they’ve invested. LLCs are easy to form and maintain, making them popular for small to medium-sized businesses. They benefit from pass-through taxation—profits and losses pass directly to members’ personal tax returns—avoiding double taxation. Overall, LLCs provide a balance of legal protection and operational flexibility.