LLC Liability

Are managers of an LLC liable? LLC members and managers are generally not liable for the LLC’s debts and other liabilities. However, California Corporations Code Section 17703.04 establishes specific instances in which members or managers may be held personally liable for company debts and other liabilities. Read more on kirksimas.com Choosing the appropriate legal structure … Read more

What is the liability of a single-member LLC? Single-Member LLC and Corporate Veil. When the corporate veil is pierced the business owner of the LLC no longer has limited liability protection. This means they can be held personally responsible for debts and losses. This is why a single-member LLC must have a separate business checking … Read more