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May 15, 2008

Limited Liability Companies (LLCs)

People always ask me, LLC or corporation?  I have been using LLCs lately for three different scenarios.

Scenario 1 – Real Property

I have used LLCs for ownership of real property.  For instance,, if you have rental properties you can place the property inside the LLC.  In theory, the ownership of the LLC will not change over time.

Scenario 2 – Family Owned Business

Let’s say you are creating a business that is going to stay in the family.  An LLC could be used for this situation.

Scenario 3 – Certain Ownership Interest

Finally, if the ownership structure of the business is certain and will not change over time, an LLC could work.  For instance, you know that you will not need an option plan and you will not be handing out equity over time.

Posted at 08:56 AM in Corporate |

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