NEVADA CORPORATION

What is an LLC? An LLC is usually formed with the intent that the owners will be the same from the beginning to the end. There is no stock in an LLC. The ownership is represented by 100% membership interest. An LLC is an appropriate entity to use when you have investment real estate. If you have a rental property, it is a good idea to put it into an LLC. The reason is that if the tenant slips and falls and sues you, he will sue the LLC and not you individually. If you intend on setting up an LLC, the lease should be in the name of the LLC and the tenants checks should be payable to the LLC. The tenants should have no doubt that the owner is not you, it is a company. An LLC can be treated like a corporation for tax purposes. It can have the same flow through attribute an S corporation is allowed. It can also have a closed status, like a C corporation. There is no record keeping requirements with an LLC. There is no board of directors. No requirement to hold board of directors or..

Primary location: Las Vegas United States