LLC or Limited Liability Company has turned itself into a popular monster nowadays. Taking history into consideration, the conventional sole-proprietorship, partnership, and corporate structure existed long before LLC was created. The state of Wyoming first initiated the creation of LLC in 1977. But what makes it popular to most entrepreneurs and other business figures?
After the IRS declared the pass-through-entity classification of LLCs for tax purposes, all other states passed legislation allowing the formation of LLC in their territory. And the state of California is one of them.
LLC in California: An Overview
