   
LIMITED LIABILITY COMPANY FORMATION
what is limited liability company | form limited liability company Delaware | advantages of limited liability company
Delaware Registry is your headquarters for limited liability company formation. If you wish to form a delaware limited liability company we can provide quick courteous service and information. Below is a summary of the delaware corporation law pertaining to delaware incorporation and delaware limited liability company formation.
A Delaware Limited Liability Company (LLC) is a hybrid business
entity, designed to combine the advantages of a corporation with the
tax advantages of a partnership. Like a corporation, the owners of
an LLC are not personally liable for the LLC's debts and obligations. Like
a partnership, an LLC can be treated as a pass-through entity for tax
purposes. This may be advantageous for those who cannot meet the IRS
requirements for an "S" corporation and desire the tax pass-through
treatment.
In summary, a Limited Liability Company provides:
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| 1. |
the pass-through tax treatment of a partnership |
| 2. |
the liability protection afforded by a corporation (and not available with a partnership) |
| 3. |
the freedom from the restrictive and burdensome qualification and operating requirements that come with an "S" corporation. |
Please note that upon registering an aircraft with FAA, the LLC has to submit a copy of its Operation Agreement. The agreement is found in the company kit,which we can provide you with.
You should check with your accountant or tax advisor to determine if a
corporation or a limited liability company best suits your individual
needs.
Delaware Registry, Ltd.
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Wilmington, DE 19810 USA
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(302) 477-9800 - Phone
(302) 477-9811 - Fax
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Last Update: September 7, 2008
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