What Kind of Liability Protection is Actually Included with an LLC Formation?

Update: 2020-09-29

Description

The main reason people form LLCs is to avoid personal liability for the debts of a business they own or are involved in. By forming an LLC, typically only the LLC is liable for the debts and liabilities incurred by the business—not the owners or managers. However, the limited liability provided by an LLC is not perfect and, in some cases, depends on multiple factors, including in what state your LLC is formed.

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