LIMITED LIABILITY COMPANIES
A Nevada LLC is an ideal structure for startups to save on taxes.
LLCs are a hybrid of a corporation and partnership. They protect the owners and operators from personal liability similar to a corporation, and they possess the “pass-through” tax benefits of a partnership.
Additionally, LLCs do not require the typical formalities that are required when managing a corporation. LLCs have been used in replacement of S-Corporations when a large group of investors are involved. Currently, S-Corporations are only allowed to have up to 100 shareholders where LLCs have no cap on the numbers of owners.
So what makes Nevada LLCs different than any other state? Well, similar to corporations Nevada has developed a superior LLC that surpasses any other state with respect to liability protection.
Advantages of a Limited Liability Company:
- Professional Limited Liability Companies are allowed
- Series Limited Liability Companies are allowed
- Indemnification of members or managers of LLCs has been increased to offer greater separation between the entity and individual
- Operating agreements adopted after filing the articles may be enforced
- Non-economic members may bring an action on behalf of the LLC
- May be formed for insurance purposes
- May have a perpetual lifespan
- Charging order protection is the sole remedy of a creditor
If you would like to know more about Nevada LLCs,
contact us at 1-866-411-2002