The Advantages of a Florida Limited Liability Company

2007-03-08 10:33:40

( Business )



Deciding what business type your establishment will be classified under can strongly affect the long term growth or even the survival of your business. Some partnership business owners have found out about this the hard way.

The owners of these types of companies have no defense against bankruptcy. Losing a case against a customer in a court of law or overextending debts may just find a single proprietor bankrupt. After all, single proprietorship and partnerships do not exclude the owners from responsibility when the business goes bankrupt.

A florida limited liability company on the other hand offers you security. Your non business assets like your personal home, own car and personal savings accounts will be kept safe from business liquidation. Much like a Delaware limited liability company or a Nevada limited liability company, a florida limited liability company is a separate entity from its business owners.

Law courts and creditors treat a limited liability corp as an individual entity as decreed by law. When the business goes bankrupt, your personal assets will be safe from the effects of this bankruptcy.

Aside from ensuring that your investment is the extent of your risk, a florida limited liability company also gets to pay lower taxes than the regular business types. Having a limited liability corp also means that you can charge your car, medical expenses and travel on the limited liability corporation that you have.

This may post a lower income or profit but this will also translate to a lower taxable income for you.

With these advantages, forming a limited liability company may be in your best interest. This means that you never have to gamble more than you are prepared to. Limited liability company formation services are available on the internet and you can look up these sites for more information on how to go about doing this for your company. Learn more about this and shop around for the best deals.


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