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Ready. Set. Incorporate! https://www.readysetincorporate.com/faq-items/if-im-the-only-member-of-my-llc-do-i-really-have-liability-protection/ Export date: Wed May 8 23:49:24 2024 / +0000 GMT |
If I'm the only member of my LLC, do I really have liability protection?Yes. Well, you have the same liability protection as a multi-member LLC 1. There will be some specific exceptions. For example, if you are personally negligent or you are responsible for your company's payroll tax obligations, then you'll be exposed to personal liability. But being a single-member LLC won't change that. There may be instances where being in a partnership 2 may change an outcome in an insolvency situation and certain specific other circumstances. |
| Excerpt: Yes. Well, you have the same liability protection as a multi-member LLC. There will be some specific exceptions. For example, if you are personally negligent or you are responsible for your company's payroll tax obligations, then you'll be exposed to personal liability. But being a single-member LLC won't change that. There may be instances where being in a partnership may change an outcome in an insolvency situation and certain specific other circumstances. |
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Post date: 2016-07-10 12:36:43 Post date GMT: 2016-07-10 19:36:43 Post modified date: 2016-07-10 12:36:43 Post modified date GMT: 2016-07-10 19:36:43 |
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