Starting a Limited Liability Company

Everything you need to know about setting up, operating, and getting the most out of the hottest new legal form of business If you are a small business owner, investor, or high-net-worth individual you've probably been hearing a lot lately about the limited liability company. The hot new organizational structure that businesspeople and investors nationwide are rushing to take advantage of, the LLC combines all the tax benefits associated with partnerships with the limited liability protection of a corporation. Now legal in 48 states, LLCs are considerably cheaper, simpler, and easier to maintain than alternative organizational forms, including Subchapter S corporations and limited family partnerships. LLCs can own subsidiary companies; have greater flexibility in allocating profits; and can have an unlimited number of investors. LLCs are even better than limited partnerships for protecting assets. Now you can find out how a limited liability company can work for you and exactly what you need to do to set up and operate one in the first complete guide, Starting a Limited Liability Company. Leading tax and estate planning attorney and bestselling business author Martin M. Shenkman and his coauthors: * Explain how to apply LLCs to operating a business, estate planning, protecting assets, real estate acquisitions, professional practices, avoiding ancillary probate, and venture capital operations * Describe how to convert partnerships and various corporate forms into LLCs * Include a detailed glossary, along with checklists and loads of sample legal forms you can use The first complete guide of its kind, Starting a Limited Liability Company is an indispensable resource for small business owners, real estate investors, and accountants.