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    jamiedragon99's Avatar
    jamiedragon99 Posts: 1, Reputation: 1
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    #1

    Nov 3, 2010, 05:54 PM
    Limited LIability Corporation
    What are the advantages for a online school to become a limited liability corporation
    NYcityboy's Avatar
    NYcityboy Posts: 785, Reputation: 65
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    #2

    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's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
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    #3

    Nov 15, 2010, 08:40 PM
    Quote Originally Posted by NYcityboy View Post
    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.
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