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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.
Trying to decide between forming an LLC or S Corp (S Corporation)? Both offer benefits of limited liability and pass-through taxation, but there are many differences. Read about the advantages and disadvantages each offers over the other
The Quarterly State Compliance Review surveyed legislation and case law affecting business entity law. The following is a summary of notable changes.
Piercing the veil disregards the corporation or LLC’s separate existence. Learn how this legal exception makes shareholders liable for the business’ debts.
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.
Illinois House Bill 4361 substantially amends the LLC Act.