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Nope. The "liability" in the name refers to personal liability, and it's 'limited' in relation to the greater personal liability present in a partnership or sol
by Itaxpica 9y ago
Nope. The "liability" in the name refers to personal liability, and it's 'limited' in relation to the greater personal liability present in a partnership or sole proprietorship. An LLC's liability structure is exactly the same as that of a corporation; the main differences between the two are how taxation is handled
- ocdtrekkie 9y agoI am confused because that's what the article seems to say. The other segment on this is: > “By separating them, it allows the parent company to limit the exposure of the various obligations of the LLCs,” Hobart said. “For example, if one of the LLCs has its own debt, only that LLC will end up being responsible for payment of that debt.” Is it that the act of making them separate companies under a holding company that grants them this, rather than the change to an LLC specifically?