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What is Limited Liability Company (LLC)?

In the US, a Limited Liability Company, or LLC, is a certain form of a private limited company. Essentially, it consists of a business structure which makes the members of a company not personally liable for any company debts or liabilities. So, an LLC combines the pass-through taxation of a partnership with the limited liability of a corporation. While it is not a corporation itself, an LLC is a legal form of a company. Basically, it provides limited liability to owners.

There are several advantages to filing as an LLC. For example:

  • With an LLC, you have some flexibility with taxes. In the beginning, the IRS won’t tax your company as a separate entity. Instead, there are a few options of how you can be taxed: through single member LLC, partners in an LLC, or filing as a corporation.
  • LLCs experience flexibility in other ways, too. The state requires less paperwork and regulation forms for LLCs.
  • Members in an LLC have liability protection. Therefore, creditors cannot go after members’ personal assets in the event of a lawsuit.

Let San Diego Truck Insurance Help You File as an LLC

Our experienced team at San Diego Truck Insurance has many skilled agents that understand the processes of filing for corporations. We understand that the paperwork and regulations can be overwhelming and a bit confusing. Therefore, we can help you through the process of filing your corporation as an LLC.

In fact, our agents can even assist and guide you in deciding which classification or filing would be best for your company! So, don’t stress over the paperwork and legal requirements for your commercial trucking business. Instead, let San Diego Truck Insurance handle it all, so you can get back to running your business.

Simply contact San Diego Truck Insurance today and we’ll give you more information on filing as an LLC!

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