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Tipton, Marler, Garner & Chastain

Starting a new busness, consider a LLC

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850-769-9491 850-233-1360

If so, then consider the Limited Liability Company (LLC). Enacted into Florida law in 1982, the LLC is rapidly becoming the business entity of choice. The (LLC) is a legal entity created under state law that is separate and distinct from its owners (referred to as “members”).  Like any other separate legal entity, the LLC may:

  • Own property
  • Incur debts
  • Enter into contracts
  • Sue or be sued

Why are they so popular?!?!?!? The LLC affords its members:

  • Limited liability with respect to the business activity
  • Complete pass-through of tax advantages with the proper elections
  • Operational flexibility, even in the area of sharing profits and distributions
  • No limit on the number and type of members (can even have a foreign member)
  • Management participation by all members
  • Can even have a single member! (applies to a sole proprietor who did not have any protection from liability)
  • Can actually separate rights within the entity (economic vs. management)

For more information or assistance in setting up your Limited Liability Company please contact us.