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Topic: Business
Number of pages / Number of words: 6 / 1593
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The LLC is often attractive to entrepreneurs because they can retain control of the business by acting as the manager or controlling member while still being able to enjoy the tax benefits of a tax flow-through entity. It is rapidly becoming the preferred entity over limited partnerships and S-Corporations (both of which provide similar tax benefits) because the LLC does not need a general partner and does not require the legal (i...


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It is rapidly becoming the preferred entity over limited partnerships and S-Corporations (both of which provide similar tax benefits) because the LLC does not need a general partner and does not require the legal (i.e., costly) "maintenance" associated with an S-Corporation (Lodgix, 2004). The LLC is recommended for LSU because of the limits on liability, tax benefits, and control...


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