LLCs allows legally binding agreements between parties,profit sharing and asset protection andthe partners can be inividuals or corporations.
Lets say you are enjoying the benefits of controlling your own corporation and you now want to combine efforts with another individual by forming a joint venture.Using two corporations that you each control to form an LLC will allowe the profits or losses from the joint venture to flow directly into the respective corporations.The taxable entity in this case would be the corporation. This is a simple way to bring two corporate entities together and keep an arms lenghts from the business at hand.
No comments:
Post a Comment