Assume you are a practicing tax professional, and your client has questions about starting a new business. Your client is curious about the limited liability company (LLC) and wants to know whether to incorporate as an LLC. Prepare professional response to your client and provide at least two benefits and two drawbacks to the LLC form.

Answer rating: 100% (QA)

structure that first appeared in Wyoming in 1977 and is now recognized by every States statute and the IRS An LLC is neither a partnership nor a corporation but a distinct type of business structure t... View the full answer