Wahoo, Nebraska

3 Compelling Advantages of Forming a Limited Liability Company October 18, 2016

Wahoo, Saunders
3 Compelling Advantages of Forming a Limited Liability Company, Wahoo, Nebraska

One of the first and most important decisions an entrepreneur will make is selecting the corporate form for their business entity. One very popular option is a Limited Liability Company, or LLC, which combines some features of a sole proprietorship with the protections of a corporation.

According to The Law Offices of Bromm. Lindahl. Freeman­-Caddy & Lausterer, a business law firm based in Wahoo, NE, creating an LLC offers considerable advantages, including:

  • business-law-Wahoo-NELimited Personal Liability: Because an LLC is a legally distinct entity, the owners and managers are not personally responsible for its debts and financial obligations. Many business owners decide to form an LLC to protect their personal assets from the consequences of an unforeseen financial failure or liability lawsuit.
  • Beneficial Tax Rates: In many situations, income generated by an LLC can be claimed on the owner's individual tax return, avoiding higher corporate income tax rates. These tax advantages can potentially save business owners thousands of dollars per year.
  • Lower Compliance Requirements: State business laws require corporations and other entities to conduct board meetings, file minutes with the appropriate agency, and fulfill a variety of other requirements. LLCs, on the other hand, usually require only an annual renewal filing and allow business owners to adopt any management structure that meets their needs.

The benefits of forming an LLC make it a compelling choice for many new business enterprises, but the best structure for any company will depend on a variety of factors. In some instances, the drawbacks of an LLC may outweigh the advantages, or another corporate form may be better suited for fledgling businesses.

Before creating a new company, consult with the business law attorneys at The Law Offices of Bromm, Lindahl, Freeman­-Caddy & Lausterer. For over a century, this firm has been guiding entrepreneurs and established businesses alike through the complexities of the legal system. Visit their website to learn more about their long-standing tradition of excellent service, or call (402) 443-3225 to arrange a consultation with a member of their team today.

Other Announcements, Events and Deals from The Law Offices of Bromm, Lindahl, Freeman-Caddy & Lausterer
What to Know About Choosing an Executor for Your Will, Wahoo, Nebraska
During the estate planning process, one of the most important tasks you’ll need to accomplish is naming an executor for your will. To ensure the best person is chosen ...read more
3 Tips for Choosing a Guardian for Your Children, Wahoo, Nebraska
Thinking about who should take guardianship of your children should something happen to you and your spouse is an uncomfortable topic, but it's an essential plan for an unpredictable...read more
4 Steps in the Civil Litigation Process , Wahoo, Nebraska
Legal disputes between people, businesses, and government entities arise every day. If the parties involved are unable to reach a settlement or agree on another way to reso...read more
How to Create a Living Will , Wahoo, Nebraska
While most of us don’t want to think about the future after our own passing, it can sometimes be harder to contemplate a scenario where we don’t die but just become incapacitated in ...read more
What Are 1031 Exchanges?, Wahoo, Nebraska
Whether you’ve been renting out apartments for years or are just dipping your toes into the investment property pool, the details of real estate law can quickly become ...read more