Legal Question in Business Law in New Jersey
Llc vs. Owner Operator
What are the advantages and disadvantages between LLC and owner operator for a truck driver?
When becoming LLC, is worker compensation required?
Asked on 1/07/07, 11:37 am
1 Answer from Attorneys
Ronald Cappuccio
Ronald J. Cappuccio, J.D., LL.M.(Tax)
Re: Llc vs. Owner Operator
A Limited Liability Company adds an extra layer of legal protection. Nevertheless, if you are the driver and are in an accident, you will be sued. But, if you are not the driver, the LLC would be sued and you may POSSIBLY avoid personal exposure. In New Jersey, you may opt out of Worker's Compensation insurance for you in the LLC.
I have more information about LLC's and business entities on my web site:
www.taxeq.com
I hope this helps!
Ron Cappuccio
Answered on 1/07/07, 10:25 pm
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