Limited liability companies (LLCs) are the most recent addition to common business structures. This structure allows business owners to divert some of the liability of debts to the business as an entity while still benefitting from pass-through taxation. Regulations of LLCs are determined on a state by state basis. Iowa does allow for the formation of LLCs under specific regulations.
LaMarca Law Group P.C. offers experienced business formation assistance that can help you as you plan and grow your business. If you are considering forming an LLC you need legal counsel to help you navigate the process. Please contact the Iowa business formation attorneys at LaMarca Law Group, P.C. by calling (515) 705-0233.
The Benefits of Limited Liability Companies
Each business structure has intrinsic values that make it beneficial for different types of business ventures. LLCs benefit businesses primarily through their flexibility and the protection they offer to business owners. The following are some of the beneficial aspects of an LLC:
- Owners carry a limited liability for debts and actions of the company, much like a corporation.
- LLCs allow for pass-through taxation which can help avoid double taxation of gains by business owners.
- LLCs can be corporations, partnerships, or sole proprietorships, which allows for flexibility in management.
- Members of an LLC can be a number of different entities including individuals, corporations, or international entities.
Like every business structure, LLCs have specific benefits and drawbacks. Discuss these benefits with an experienced business formation attorney.
Contact your Iowa business attorneys at LaMarca Law Group, P.C. for more information regarding proper business formation by calling (515) 705-0233.