Best Business Attorneys in Gilbert, AZ

What are the benefits of an LLC? Limited Personal Liability: The primary benefit of forming an LLC is limiting personal liability for business debts and obligations. Unlike sole proprietors or general partners in partnerships, members’ personal assets will not be at risk if the company faces financial difficulties or gets sued. Pass-Through Taxation: An LLC’s profits pass through to its members who report them on their individual tax returns. This means that there is no double taxation as seen with corporations. Flexible Management Structure: Unlike corporations where there must be a board of directors running the company, LL Cs have more flexibility in their management structure. Members can choose to manage themselves or appoint managers to run daily operations. Ease of Formation: Forming an LLC is relatively easy compared to other entities like corporations. You only need to file Articles of Organization with the state and create an Operating Agreement outlining how your business will be run. At CDM Law, Law Offices of C. David Martinez we can assist Arizona residents with Business Formation Matters...