business framework

Frequently-Asked Questions Before Starting an LLC

Protection for your personal assets? Protection of your company’s income against double taxation? Allocation of shares and profits according to the shareholder’s efficiency and performance? You can found all of these in the limited liability company, or most commonly known as LLC.

LLC owners have personal limited liability on the company’s debts and obligations. In other words, if you are an LLC owner, your company’s creditor can not go after your personal assets such as a piece of real property or a personal bank account as payment for the obligations of your company. You will only lose the money you have invested on the LLC. Nothing more than that.

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