Breaking Down LLCs: What You Need to Know About Business Entities! | Dewayne Williams
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Many business owners automatically assume
Many business owners automatically assume that having an LLC means their business is viewed as a separate entity, especially for single-member LLC owners. However, according to the IRS, LLCs are NOT INCORPORATED. Incorporation happens when a business is granted a charter, legally recognizing it as a distinct entity with its own rights and liabilities.
A limited liability company (LLC) is a structure allowed by state statute. It's formed by filing articles of organization with the state's secretary of state office. Owners of an LLC are called members.
What an LLC is:
- A structure allowed by state statute.
- Formed by filing articles of organization with the state's secretary of state office.
- Required to have a unique name within its state.
What an LLC is not:
Incorporated, and thus does not file articles of incorporation.
Understanding these distinctions can help clarify the legal status and responsibilities of your LLC.
✨ 𝐉𝐨𝐢𝐧 𝐃𝐞𝐰𝐚𝐲𝐧𝐞 𝐖𝐢𝐥𝐥𝐢𝐚𝐦𝐬 ✨
@dewayne_themac
🍁 𝐀𝐛𝐨𝐮𝐭 𝐃𝐞𝐰𝐚𝐲𝐧𝐞 𝐖𝐢𝐥𝐥𝐢𝐚𝐦𝐬 🍁
Hey everyone, Dewayne Williams here! Want to turn your million-dollar idea into a booming business? This channel is your one-stop shop for actionable knowledge. We'll dive deep into crafting winning business plans, conquering startup essentials, and mastering the books and taxes. Plus, we'll keep things positive and motivational to fuel your entrepreneurial journey. Let's build your dream business together!
📌𝗖𝗛𝗘𝗖𝗞 𝗢𝗨𝗧 𝗢𝗧𝗛𝗘𝗥 𝗩𝗜𝗗𝗘𝗢𝗦
➡️STOP! No Employees, No EIN! IRS Compliance Alert!
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🔗 Don't Risk Penalties: File Your Benef...
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𝐂𝐨𝐧𝐧𝐞𝐜𝐭 𝐰𝐢𝐭𝐡 𝐮𝐬:
➡️Website
🔗macenterpriseconsulting.com
➡️Instagram
🔗instagram.com/dewayne_themac
➡️TikTok
🔗tiktok.com/@dewayne_themac
➡️Facebook
🔗facebook.com/dewaynewilliams05
𝗧𝗵𝗮𝗻𝗸𝘆𝗼𝘂 𝗳𝗼𝗿 𝘄𝗮𝘁𝗰𝗵𝗶𝗻𝗴: Breaking Down LLCs: What You Need to Know About Business Entities! | Dewayne Williams
#llc #incorporation #businessstructure #legalentity #entrepreneurlife
#businesstips #startup #smallbusiness #businessowner #legaladvice
𝗥𝗲𝗹𝗮𝘁𝗲𝗱 𝗦𝗲𝗮𝗿𝗰𝗵𝗲𝘀:
llc vs incorporation for new business
benefits and drawbacks of llc vs corporation
single member llc vs sole proprietorship
is my llc a separate entity from me irs
how to apply for ein for single member llc
how to choose the right business structure
A limited liability company (LLC) is a structure allowed by state statute. It's formed by filing articles of organization with the state's secretary of state office. Owners of an LLC are called members.
What an LLC is:
- A structure allowed by state statute.
- Formed by filing articles of organization with the state's secretary of state office.
- Required to have a unique name within its state.
What an LLC is not:
Incorporated, and thus does not file articles of incorporation.
Understanding these distinctions can help clarify the legal status and responsibilities of your LLC.
✨ 𝐉𝐨𝐢𝐧 𝐃𝐞𝐰𝐚𝐲𝐧𝐞 𝐖𝐢𝐥𝐥𝐢𝐚𝐦𝐬 ✨
@dewayne_themac
🍁 𝐀𝐛𝐨𝐮𝐭 𝐃𝐞𝐰𝐚𝐲𝐧𝐞 𝐖𝐢𝐥𝐥𝐢𝐚𝐦𝐬 🍁
Hey everyone, Dewayne Williams here! Want to turn your million-dollar idea into a booming business? This channel is your one-stop shop for actionable knowledge. We'll dive deep into crafting winning business plans, conquering startup essentials, and mastering the books and taxes. Plus, we'll keep things positive and motivational to fuel your entrepreneurial journey. Let's build your dream business together!
📌𝗖𝗛𝗘𝗖𝗞 𝗢𝗨𝗧 𝗢𝗧𝗛𝗘𝗥 𝗩𝗜𝗗𝗘𝗢𝗦
➡️STOP! No Employees, No EIN! IRS Compliance Alert!
🔗 EIN Myth Busted! Do You REALLY Need O...
➡️URGENT: Avoid $500/Day Fines! Who MUST Complete the FINCEN Beneficial Ownership Form?
🔗 Don't Risk Penalties: File Your Benef...
➡️Houston Storm Aftermath: Power Outages and Tower Damage
🔗 Houston in the Dark: Power Outages Af...
➡️How to Start a Business and Make $1 Million Your First Year
🔗Ultimate Masterclass: Build & Scale Y...
𝐂𝐨𝐧𝐧𝐞𝐜𝐭 𝐰𝐢𝐭𝐡 𝐮𝐬:
➡️Website
🔗macenterpriseconsulting.com
➡️Instagram
🔗instagram.com/dewayne_themac
➡️TikTok
🔗tiktok.com/@dewayne_themac
➡️Facebook
🔗facebook.com/dewaynewilliams05
𝗧𝗵𝗮𝗻𝗸𝘆𝗼𝘂 𝗳𝗼𝗿 𝘄𝗮𝘁𝗰𝗵𝗶𝗻𝗴: Breaking Down LLCs: What You Need to Know About Business Entities! | Dewayne Williams
#llc #incorporation #businessstructure #legalentity #entrepreneurlife
#businesstips #startup #smallbusiness #businessowner #legaladvice
𝗥𝗲𝗹𝗮𝘁𝗲𝗱 𝗦𝗲𝗮𝗿𝗰𝗵𝗲𝘀:
llc vs incorporation for new business
benefits and drawbacks of llc vs corporation
single member llc vs sole proprietorship
is my llc a separate entity from me irs
how to apply for ein for single member llc
how to choose the right business structure
6 ماه پیش
در تاریخ 1403/01/17 منتشر شده
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