Limited Liability Companies (LLC) are a creature of statute, recognized in each jurisdiction only by virtue of a legislative enactment in each state. There are three aspects of the LLC that are enticing for new businesses: (1) it can be taxed as a partnership, as a corporation (if such an election is granted by the I.R.S.), or as a disregarded entity if there is only a single member; (2) it is an extremely flexible form of business both in terms of options when creating the business and options about how it is to operate; and (3) it offers all members limited liability.

Learn more via the recently completed 4-page, 4-color RISK CONCEPTS series, covering seven common forms of business ownership, including Limited Liability Companies.

Several RISK CONCEPTS bulletins covering alternative forms of business structure were recently posted and are available for download at: RightRisk.org/riskconcepts.

The Enterprise Risk Analyzer via RightRisk Analytics tool is one of over 30 individual risk analysis tools developed by RightRisk and available free of charge at:RightRisk.org\analytics.

 
The Sole Proprietorship is the simplest business form under which one can operate a business. The sole proprietorship is not a legal entity. It simply refers to a person who owns the business and is personally responsible for its debts. A sole proprietorship can operate under the name of its owner or it can do business under a fictitious name.

Learn more via the recently completed 4-page, 4-color RISK CONCEPTS series, covering seven common forms of business ownership, including the Sole Proprietorship.

Several RISK CONCEPTS bulletins covering alternative forms of business structure were recently posted and are available for download at: RightRisk.org/riskconcepts.