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When LLC Owners Can Be Liable

Service of process A key benefit of limited liability companies is that the owners (or “members”) receive limited liability; that is, they can usually not be held personally liable for the debts of the LLC. In addition, if the LLC is sued, the owners’ personal assets are not subject to collection.

However, there are some instances when — as lawyers say — the veil of limited liability is pierced and the LLC members can be personally liable for the debts of the LLC.

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Categories: Limited Liability Tags: business losses, lawsuit, limited liability, member duties, record keeping, registered agent

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- The Business Case for Digitizing Your Archive
  Digitizing your archive can save your LLC a lot of money.
  
  Taxation of Limited Liability Companies
  
  Your LLC must pay taxes. Find out how much to pay and how to make your annual tax filing.
  
  LLP vs. LLC
  
  Though LLPs and LLCs offer similar legal protections, one entity might be better for your business.
  
  Can an LLC Have Employees?
  
  An LLC may hire employees as long as it meets two mandatory criteria.
  
  LLC Set-Up Costs
  
  An LLC business has many associated costs. LLC startup costs vary depending on your state and business niche.
  
  Limited Liability Company Benefits
  
  Limited liability companies provide a great deal of benefits; some you may not even know about.

Posts Tagged ‘lawsuit’

When LLC Owners Can Be Liable

Topics

Further Reading

The Business Case for Digitizing Your Archive

Taxation of Limited Liability Companies

LLP vs. LLC

Can an LLC Have Employees?

LLC Set-Up Costs

Limited Liability Company Benefits

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