Legal Question in Business Law in New York
LLC vs. Corporation
What's the difference between a LLC & a corporation? If you are sued personally is a LLC protected or if your company is sued are you personal assets protected? Can you have a D/B/A name under a LLC? Thanks.
Asked on 3/06/03, 9:06 pm
1 Answer from Attorneys
Re: LLC vs. Corporation
With regards to the questions of personal liability and using a DBA, there is very little difference between an LLC and a corp.
From a tax standpoint and an ownership (e.g. ownership by another entity vs. an individual) there are differences. I also very much matters whether you are talking about an "S" corp or a "C" corp.
Answered on 3/07/03, 8:10 am
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