4 ms·
This statement is obviously incorrect. It’s literally the name of the thing, the two L’s stand for “limited liability”
by CPLX 7y ago
This statement is obviously incorrect.
It’s literally the name of the thing, the two L’s stand for “limited liability”
- wheelerwj 7y agoits limited, NOT absolute. If you are a single person LLC the claim can be made that the business is an alter-ego of the owner, and can then the corporate veil can be pierced.
- busterarm 7y agoThis is exactly what I was advised about single-person LLCs by the SBA. And my lawyer.
- CPLX 7y agoI mean of course. But that’s true of all corporations. If you conduct the business in a businesslike manner and keep proper separation of personal issues, and keep required records to document its corporate actions then you have the law’s liability protection. That’s also true for a 2 or 200 member LLC.