View Full Version : Limited LIability Corporation
jamiedragon99
Nov 3, 2010, 05:54 PM
What are the advantages for a online school to become a limited liability corporation
NYcityboy
Nov 15, 2010, 06:47 AM
Usually two things (1) the corporate protection from being a company, in that if there is a lawsuit, only the assets of the company can be used for the judgment (no personal assets of the company owners) and (2) tax benefits similar to a general partnership.
Confirm this with a corporate lawyer.
AK lawyer
Nov 15, 2010, 08:40 PM
usually two things (1) the corporate protection from being a company, in that if there is a lawsuit, only the assets of the company can be used for the judgment (no personal assets of the company owners) and (2) tax benefits similar to a general partnership.
confirm this with a corporate lawyer.
Essentually correct.
But it is a "limited liability company". It is not a corporation.