| |
The last type of business entity is Limited Liability. Even
though it is a corporation, it is structured like a regular partnership.
However, it has liability protection similar to "S" corporations.
The income and loss flow through the 1040 of the members and directors.
One interesting aspect of this Limited Liability entity
is a one person company may have total liability protection, but
the entity is treated as a sole proprietorship for tax purposes.
For more information, please consult an attorney or financial advisor.
|
|
