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LLC stands for limited liability company. What makes it different than a DBA is that a LLC gives you limited liability. If your LLC is sued, you're protected pe
by theturtletalks 7y ago
LLC stands for limited liability company. What makes it different than a DBA is that a LLC gives you limited liability. If your LLC is sued, you're protected personally from losing assets. Regardless, many people don't need it and a DBA suffices until the liability gets too high.
- m0zg 7y agoWhile true, for solo LLCs in particular such "protection" can be incomplete. I'd advise folks to consult with a lawyer before embarking on anything risky.
- bsamuels 7y agoYou also have to pay $800/year in franchise tax if you run an LLC in California, regardless of income. If OP is just making an etsy or something, he does not need an LLC.
- PopeDotNinja 7y ago> If your LLC is sued, you're protected personally from losing assets. A lawyer friend once told me that anyone can sue anyone at any time for anything. A good lawyer will sue the LLC and the owner of the LLC. Even if the defendant is found to not be liable, it won't feel like a victory when the invoice from the defendant's attorney arrives.