Multi-member LLC

A Multi-member LLC, or Limited Liability Company, is a business structure with two or more owners, called members. It combines the benefits of a corporation and a partnership. Members enjoy limited liability, meaning their personal assets are protected from business debts and legal liabilities. This structure allows for flexible management and profits can be distributed in various ways. Additionally, multi-member LLCs typically avoid double taxation, as profits are passed through to members' personal tax returns. This makes them an attractive option for groups looking to start a business together while safeguarding their personal finances.