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limited liability company (llc)

A limited liability company (LLC) is a business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. Our Resource Center offers the latest industry news and updates on this particular business structure.


Articles

Quarterly State Compliance Review - October 2017

The Quarterly State Compliance Review surveyed legislation and case law affecting business entity law. The following is a summary of notable changes.

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Articles

Piercing the Veil of Small Business: What the Owners of LLCs and Corporations Need to Know

Piercing the veil disregards the corporation or LLC’s separate existence. Learn how this legal exception makes shareholders liable for the business’ debts.

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Articles

Sweeping Changes to Illinois’ LLC Law Effective July 1

Illinois has enacted sweeping changes to its Limited Liability Company Act, effective July 1, 2017. Read our summary of the key changes made by House Bill 4361.

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State Legislative Updates

Illinois House Bill 4361

Illinois House Bill 4361 substantially amends the LLC Act. 

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State Legislative Updates

Wyoming Senate Bill 100

Wyoming Senate Bill 100 provides revisions to the definition of membership majority for LLCs

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