Explore this guide to LLCs (Limited Liability Companies), including members, managers, and changes in company structure, plus a glossary of common LLC terms.

Trying to decide between forming an LLC or S Corp (S Corporation)? Both offer benefits of limited liability and pass-through taxation, but there are many differences. Read about the advantages and disadvantages each offers over the other

Learn about the difference between an LLC (Limited Liability Company) and Inc. (different types of corporations), including liability, management, taxes & more.

The Quarterly State Compliance Review surveyed legislation and case law affecting business entity law. The following is a summary of notable changes.

Piercing the veil disregards the corporation or LLC’s separate existence. Learn how this legal exception makes shareholders liable for the business’ debts.

Illinois has enacted sweeping changes to its Limited Liability Company Act, effective July 1, 2017. Read our summary of the key changes made by House Bill 4361.

Illinois House Bill 4361 substantially amends the LLC Act. 

Wyoming Senate Bill 100 provides revisions to the definition of membership majority for LLCs

Connecticut House Bill 5259 enacts a new LLC and repealed the old law. 

Young v. Affliction Holdings, LLC, CA 5:16-cv-11342 (USDC, SD WV) decided May 24, 2017.  A federal court in West Virginia held that a West Virginia LLC that was administratively dissolved by the Secretary of State for failure to file an annual report