LLC Classification

What type of LLC is a record label? Limited Liability Company Limited Liability Company or LLC. The limited liability company (LLC) is ideal for most record label businesses. An LLC is easy and inexpensive to set up, and has the least administrative requirements of any formal business entity. Read more on www.incfile.com It’s crucial to … Read more

Does it matter if I am classified as a single or multi-member LLC? A single-member LLC is easier for tax purposes because no federal tax return is required, unless the business decides to be treated as a corporation for tax purposes. The income is reported on the member’s tax return. A multiple member LLC must … Read more

What are the classes of LLC? Often, especially in real estate investments, an LLC will have two classes of ownership?one for those who make equity contributions to the LLC and a second for the manager, who is responsible for LLC operations. Read more on www.jdsupra.com Due to their ability to combine the advantages of a … Read more

What is the difference between a domestic and professional LLC? The main difference between a LLC and a PLLC is that only professionals recognized in a state through licensing, such as architects, medical practitioners and lawyers, can form PLLCs. Because of the extra approval step, the process to form a PLLC usually takes longer to … Read more