Monday, July 26, 2010

What is the difference between single member or multiple members LLCs?

Generally, Limited liability Company (LLC) can be formed with unlimited numbers of shareholders. In such a case it is called multiple members LLC. Nevertheless, most states also permit "single member" LLCs, those having only one owner. A single-member LLC is taxed as a sole proprietorship, while a multiple-member LLC is taxed as a partnership.



No comments:

Post a Comment