What's LLC? - Posted by chazz

Posted by Ernest Tew on February 16, 2003 at 09:59:56:

LLC is the abreviation for limited-liability company. For many, a LLC offers ?the best of both worlds.? It combines the limited liability features of a corporation and the flexibility and tax advantages of a partnership. The members even have a choice of whether they want to be taxed as a corporation or partnership.

In short, a limited-liability company is often suitable for joint ventures, real estate investments, large high-tech companies?or even the simplest family-owned business. A limited-liability company can also serve as a ?safe haven? for the bulk of one?s wealth?provided the individual has a properly designed system in place for doing business and making investments.

While neither the manager nor the members of a LLC have any personal liability, the LLC itself could be sued. Therefore, steps should be taken to avoid letting the LLC accumulate assets that would be attractive to preditors.

What’s LLC? - Posted by chazz

Posted by chazz on February 14, 2003 at 19:57:54:

What does LLC mean?


Re: What’s LLC? - Posted by Bob

Posted by Bob on August 19, 2003 at 12:21:57:

I have been thinking about selling my interest in a family owned limited parternership that was passed down to me in a living trust. I own about 1% of an old well-established mobilehome park that provides me a steady monthly income. It?s set up as an LLC. My question is in regard to establishing its reasonable value, and any limitations the agreement may pose that limits my ability to sell, assign, borrow money against or transfer title