Business Organization

Rhiannon Neufell

BUS 311 - Business Law I

Instructor David MacKusick

May 11, 2015

Business Organization

Limited liability companies (LLC) seem to be the way to go to start up a small business. With the ability of choosing which regime of taxation the business will identify with, protection from liability for the debts accrued by the business, no double taxation on business and member, and having the business counted as a separate entity, LLCs enjoy many of the benefits that corporations do, while being counted as a default partnership where new LLC laws do not cover an issue. Opening a restaurant as an LLC is ideal due to the lesser amount of paperwork to be done, and the ability to have numerous members, allowing LLCs to practice efficiency, saving...