The Limited Liability Company
Multiple Formats Available
(includes coursebook .PDF and audio .mp3)
The Limited Liability Company: What you Need to Know
Of the many business entities that owners consider, the Limited Liability Company (LLCs) and Subchapter S Corporation (S-Corps) are two of the most popular. Although they share the distinction of being “pass-through” entities in addition to providing liability protection, they do have several differences. Attorneys engaging in company formation must also consider operational simplicity, administrative requirements, profit-sharing and employment tax implications. This 50-Minute CLE program will address the following topics: (i) what is an LLC; (ii) what differentiates an LLC from other business entities; (iii) the formation process; (iv) management structure and whether member-managed or manager-managed LLCs are best; (v) asset protection, creditors rights and charging orders; and (viii) federal and state tax treatment. This program will also address the varying approach by states to single member and multi-member LLCs. Finally, the Instructor will briefly review a sample Limited Liability Company Operating Agreement kindly provided by Northwest Registered Agent LLC and point out areas that require special attention.
Benjamin A. Stolz, Esq., is trainer, speaker, educator, writer and attorney with over 21 years experience practicing consumer bankruptcy and business law, managing and advising small businesses. Ben received his BA from the University of South Florida, with Departmental Honors, and a JD from Southern Methodist University. He has been admitted to practice in Texas both before the Supreme Court of Texas, all lesser Texas courts, as well as the United States District Court for the Northern District of Texas and the United States Tax Court. Ben is a member of American Bankruptcy Institute (ABI), Association of Litigation Support Professionals (ALSP), the American Bar Association (ABA), and proud graduate of the Max Gardner Bankruptcy Bootcamp, and a frequent guest panelist at Consumer Bankruptcy CLE events. As a result of his ongoing commitment to continuing legal education, Ben was also admitted in 2009 to the College of the State Bar of Texas.