A limited liability company (LLC) limits the potential for its members to be personally liable for the LLC's business debts. It features pass-through taxation.

Different types of businesses and business interests hold different levels of liability when it comes to debts and obligations. Owners of sole proprietorship businesses and general partnerships may be ...

An LLP is an unincorporated business owned and run by multiple people whose assets are protected. Many, or all, of the products featured on this page are from our advertising partners who compensate ...

Nonprofit organizations, such as charitable organizations, are legal entities separate and distinct from the individuals who control and operate them. The primary difference between a charity and a ...

When they incorporate, many businesses form as Limited Liability Companies (LLCs). An LLC is a corporate structure that’s a separate entity from the person(s) forming it. It also requires the owners ...

Getting the choice of entity right at the start is crucial, since switching later can have tax and other consequences. Getting the choice of entity right at the start is crucial, since switching later ...

Fifty years ago Milton Friedman declared that "the social responsibility of business is to increase its profits." The anniversary of that proclamation occasioned a flurry of commentary about what, if ...

In Sirius Solutions, the court rejected a participation-based test for self-employment tax, finding that limited liability, and not day-to-day activity, controls who qualifies for the self-employment ...