I'm interested in forming an LLC through LegalZoom. What is the starting cost, excluding state filing fees? What are two key advantages regarding personal liability and business management flexibility? Also, what is a significant limitation of an LLC mentioned on the site?
Navigate to the LegalZoom homepage. Click on 'Start my business' to go to the Business Formation page. Locate the 'Limited Liability Company (LLC)' section. Identify the starting cost for an LLC. Find information on personal liability protection and business management flexibility within the LLC description. Scroll down to find the 'Drawbacks to consider' section for LLCs. Identify a significant limitation of an LLC from this section.
State the starting cost for an LLC as '$0 + state filing fees'. Identify that LLCs offer protection from personal liability for business debts. Identify that LLCs provide maximum flexibility in how a business is managed, without requiring a board of directors. State that a significant limitation of an LLC is that 'LLCs can't go public' or 'Not recognized globally; you may be taxed as a corporation in other countries'.