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What are the advantages of having a limited liability company, or LLC?

What are the Advantages of Having a Limited Liability Company, or LLC?

 

 

What are the advantages of having a limited liability company, or LLC? | TNG Legal | Attorney Tonya N. Gibbs | http://tnglegal.com/ | (540) 632-1864 | general@tnglegal.com

Video Transcript

The advantages of having and LLC is that you have a lot of the benefits of a corporation without having the corporate formalities. Some of the examples of that include limited liability. The individuals or members of the LLC are not liable for the debts and liabilities of the business. Therefore creditors of the business cannot come after personal bank accounts, homes or vehicles of the members of the LLC. There also is a lot more flexibility in an LLC than there are in some of the other entities.

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