top of page

What is a Limited Liability Company?

Valiant Legal Document Logo

A limited liability company (referred to as an “LLC”), like a corporation, is a legal entity existing separate and apart from its owners. The owners of an LLC are called “members.” An LLC is created when proper articles of organization (or the equivalent under the laws of a particular state) are filed with the proper state authority (usually the Secretary of State), and all filing fees are paid.  Some state laws may impose additional pre or post-creation requirements as well.

​

The three main advantages of the LLC structure are:

           

• The LLC, Like a partnership, is given a pass-through tax treatment, i.e. profits and losses are reported on each owner/member's individual tax return;

 

• The LLC, like a corporation, provides limited liability to its owners/members, which means that creditors can collect only from the LLC’s assets, and not directly from the owners/members of the LLC.

 

• The LLC provides flexibility in management and other issues while preserving the 2 advantages listed above

Disclaimer

Valiant Virtual Paralegals (VVP) is not a law firm. Our staff members are not lawyers and cannot give legal advice or represent you in court. VVP provides document preparation services at the client’s direction, ensuring your documents are correctly prepared and filed, but these services are not a substitute for the advice of a lawyer. If you have questions regarding selecting appropriate forms, please seek the advice of a qualified lawyer.

© 2025 Valiant Virtual Paralegals, LLC. All Rights Reserved.

Quick Links: Home | About Us | Services | Blog | Contact

​

Social Media: LinkedIn, Facebook, Instagram. CALDA

 

Contact Info:  (800) 208-5217 | info@valiantvirtualparalegals.com | 2150 N 1st Street 4th Fl., San Jose, CA 95131


Privacy Policy & Terms of Use

bottom of page