Understanding how to create a Limited Liability Company (LLC)
Whether you are just starting your business or have been operating as a sole proprietorship or general partnership, you may be wondering about the benefits of incorporating your business as a limited liability company (LLC). Many business owners assume it will be too costly or time-consuming—but neither is the case.
The benefits of creating an LLC typically outweigh any perceived disadvantages and are typically unavailable to sole proprietorships and general partnerships.
LLCs may have some potential disadvantages, including:
For specific questions on which corporation structure is best for your business, consider talking with an attorney or accountant.