What Is an Umbrella LLC, Exactly? An umbrella LLC is another word for a holding company. An umbrella LLC owns other LLCs that are below it, known as subsidiaries. It effectively shelters those LLCs from cross liability in the event that future litigation results in a judgment creditor trying to collect against assets of a […]
Continue Reading
What Is a General Partnership? A general partnership is formed through implied conduct. This is when two or more individuals agree, either orally or in writing, to engage in business towards a common goal. A general partnership commences upon performance of even preliminary tasks to create the business. This is the default applied anytime two […]
Continue Reading
What Is An LLC (Limited Liability Company)? An LLC, or “Limited Liability Company”, is a type of business structure that provides liability protection for its owners. The laws of the state where the LLC is registered uphold these protections. LLCs create a layer of separation between a business and its owners, who are called […]
Continue Reading
Why Form a Single Member LLC? Technically, anyone can become a single member LLC. Freelancers, contractors, photographers, and musicians may choose to become a single member LLC to legally separate their professional operations from their personal assets, like their home, car, or savings. In the event of an issue with your business, your personal […]
Continue Reading
If you’ve formed an LLC but haven’t done business this year, you may be wondering if you need to pay the Delaware franchise tax. Here’s what you need to know. What Is the Delaware Franchise Tax, Again? Franchise “Tax” is often misinterpreted to mean that the fee will be calculated based on profits or […]
Continue Reading Becoming an LLC is an easy and inexpensive way to protect yourself from personal liability for business obligations. It’s definitely worth considering if you have your own business—even if that business is you.
Continue Reading