Limited Liability Company | LLC Overview, Meaning & Examples

Setting up a Limited Liability Company (LLC) properly is one of the most important steps in establishing your business. Use these 7-step guides to properly start an LLC for your business 😉 🌟 Pro-Tip: Get an Employer Identification Number (EIN) as soon as you set up your business as it's mandatory for most businesses to have when starting an LLC. It also separates your business entity & assets from your own finances. Follow @whyfisolutions to learn more about how you can structure your business

Corporation vs. Limited Liability Company. When it comes to entity formation you have two choices: a limited liability company or a corporation. Your choice (or lack thereof) affects a number of business activities, including, but not limited to, your personal exposure, tax liabilities, ability to raise capital, record keeping and other compliance requirements, and ownership structure. LLCs were first authorized in Wyoming in the 1970s and are basically a contract. This option may work well for

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