Skip to content
Limited Liability Company (LLC) Overview
- A limited liability company (LLC) protects personal assets. If the business has issues, your personal assets are safe.
- Setting up an LLC shields assets from business debts and lawsuits.
- LLCs prevent double taxation of owners. For tax purposes, the IRS treats an LLC as a pass-through entity.
- This means LLCs don’t pay taxes on business income. Instead, income and expenses go directly on the member’s tax return.
- LLC owners are not personally liable for company debts. However, LLCs can be expensive to form and maintain.
LLC Formation and Taxation
- States regulate LLCs. You can form one yourself or use a service.
- The main LLC cost is the state filing fee. If an LLC has multiple owners, it’s taxed like a partnership.
- LLCs allow owners to enjoy corporate advantages while retaining tax benefits.
Iowa LLC Formation Cost
- How much does an LLC cost in Iowa? The $50 fee is a one-time fee and the only LLC formation cost to register your Limited Liability Company with the state.
