The purpose of a Limited Liability Company is, as the name implies, to limit the exposure of its partners to the liabilities of the company. It is not to get preferential tax treatment. An LLC files a partnership tax return just like an ordinary partnership, and its members pay taxes of their shares of the company's profits.
I'm sure one of our attorneys here will do some hair-splitting, but that's my understanding.
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Today's Featured Article - Search For Spares - by Anthony West (UK). Following on from the aquisition of the old Fordson F, I was very much in need of spares. As a novice though I didn't appreciate the fact that there were so many Fordson tractors made, that all the other makes seem rare by comparison. As far as I was aware a fordson was a fordson and it was only through trial an
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