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0 pointsCPLX7y ago0 comments

This statement is obviously incorrect.

It’s literally the name of the thing, the two L’s stand for “limited liability”

0 comments

its limited, NOT absolute. If you are a single person LLC the claim can be made that the business is an alter-ego of the owner, and can then the corporate veil can be pierced.

CPLXOP7y ago

I mean of course. But that’s true of all corporations.

If you conduct the business in a businesslike manner and keep proper separation of personal issues, and keep required records to document its corporate actions then you have the law’s liability protection.

That’s also true for a 2 or 200 member LLC.

busterarm7y ago

This is exactly what I was advised about single-person LLCs by the SBA.

And my lawyer.

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