LLC – Limited Liability Company

One of the most popular entities for new businesses today is the limited liability company (“LLC”). The reason for this is primarily that LLCs generally fuse the best aspects of partnerships and corporations into a single entity, allowing for immense operational and ownership flexibility and insulation from most legal liabilities, all while avoiding most forms of double taxation.

However, LLCs are distinct from both the corporations and partnerships that originally inspired them. In an LLC the owners (referred to as “members”) are most often the same individuals who make major business decisions that corporations reserve to a Board of Directors (though this can be circumvented). In North Carolina, they are also not eligible to become publicly-traded, which means if your vision for your business involves one day “going public” or if you will be relying on venture capital for funding, an LLC is probably not for you.

At Garrett, Walker & Aycoth, we want to make your dreams a reality. By combining our legal knowledge with your business vision, we can help you decide whether an LLC is right for your business, both now and in the future. Call us today at (336) 379-0539 or contact us to schedule an in-depth consultation.


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