Nolo's Quick LLC: All You Need to Know About Limited Liability Companies, Fourth Edition

233 Pages·2007·0.87 MB·English

by  Anthony Mancuso

4th Edition
Nolo’s
Quick LLC
by Attorney Anthony Mancuso
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4th Edition
Nolo’s
Quick LLC
by Attorney Anthony Mancuso
FOURTH EDITION FEBRUARY 2007
Editor LISA GUERIN
Production JESSICA STERLING
Cover Photography TONYA PERME (www.tonyaperme.com)
Proofreader ROBERT wELLS
Index SONGBIRD INDEXING SERVICES
Printer DELTA PRINTING SOLUTIONS, INC.
International Standard Serial Number
(ISSN) 1932-17401
ISBN 1-4133-0565-2
Copyright © 2000-2007 by Anthony Mancuso. All Rights Reserved.
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Acknowledgments
A special thanks to Ilona Bray, Bethany Laurence, and Jake warner for help
producing the first edition, and to all the Noloids at Nolo for their continued
assistance in helping me keep alive another self-help law business resource.

Table of Contents
I Introduction
Should You Consider Forming an LLC? ............................................................................................3

How to Use This Book ...............................................................................................................................9
What This Book Doesn’t Do .................................................................................................................10
Legal and Tax Experts ...............................................................................................................................10
Other Nolo LLC Resources ....................................................................................................................10
1 An Overview of LLCs
Basic LLC Features ......................................................................................................................................16
Exceptions to Owners’ Limited Liability ........................................................................................25
Basics of Forming an LLC ........................................................................................................................34
2 The LLC vs. Other Business Structures
Other Business Structures .....................................................................................................................43
What Is a Sole Proprietorship? ............................................................................................................44
What Is a General Partnership? ...........................................................................................................49
What Is a Limited Partnership? ...........................................................................................................54
What Is a C Corporation? .......................................................................................................................57
What Is an S Corporation?.....................................................................................................................68
What Is an RLLP? .........................................................................................................................................73
Deciding Between an LLC and Another Business Type .........................................................76
Business Structures Comparison Table ..........................................................................................79