Limited Liability Companies

Limited liability companies are types of companies that are neither corporations nor partnerships, yet provide many of the features offered by such structures. Limited liability companies, also known as LLCs, provide liability protection similar to that of a corporation, meaning that members cannot be held responsible for debts unless they have signed a guarantee. Additionally, limited liability companies protect you from double taxation, meaning that members are not required to pay for both individual and corporate taxes.

Advantages and Disadvantages of Limited Liability Companies

At Val-U-Corp Services, Inc., our goal is to simplify the formation of your limited liability company in Nevada. One of the main advantages of an LLC is the fact that most states only require one or two members for such an organization to be recognized. Additionally, the LLC is recognized as its own legal entity, providing legal protection for its members.

Management and control of a limited liability company lies solely with its members unless its articles of agreement specify something different. Additionally, members cannot be added, or the LLC transferred, without majority consent of the existing members. On the flip side, limited liability companies do not have a long lifespan and can be dissolved upon the death, bankruptcy or expulsion of a member.

Different states have different laws governing limited liability companies, but Nevada has become one of the best states in which to create one. LLCs are cheaper to form and easier to organize than full-fledged corporations and Nevada's tax code offers incredible benefits to those who do. Through our services at Val-U-Corp, you can be sure to receive all of the up-to-date information needed to simplify the creation of your limited liability company.