Ashlen

Limited Liability Companies (LLCs) Limited liability companies legally enjoy the same limited liability advantages as corporations. LLCs also provide tax benefits that some corporations don’t. Both LLCs and corporations shield their owners from liability for the entity’s actions. Between 2005-2014, domestic LLCs increased 66%. LLCs have no limit on members allowed. Profits and losses pass … Read more

Business Inactivity and Dissolution If a company does not remain in good standing while it is inactive, the state may dissolve it and impose penalties. Owners may become personally liable for any outstanding tax liability as a result. Inactive dissolution refers to dissolving a business that is inactive. When a business dissolves, it no longer … Read more