Belsheim & Bruckert LLP

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1002 E. Wesley Drive,
Suite 100
O'Fallon, IL 62269

618-624-4221 (phone)
618-624-1812 (fax)

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Business & Corporate

Limited Liability Company

A limited liability company (LLC) is a relatively new business structure allowed by state statute. LLCs are popular because, similar to a corporation, owners have limited personal liability for the debts and actions of the LLC. Other features of LLCs are more like a partnership, providing management flexibility and the benefit of pass-through taxation. Owners of an LLC are called members. Members may include individuals, corporations, other LLCs, and foreign entities. There is no maximum number of members and the minimum number is one.