I'm considering forming an LLC with LegalZoom. What's the base cost to form an LLC, excluding state filing fees? What are the main benefits of an LLC regarding personal liability and managing the business? Also, what is a major drawback 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. Click on the 'Limited Liability Company (LLC)' tab to expand its details. Scroll down to view the full details of the LLC section. Find information on personal liability protection and business management flexibility within the LLC description. Locate the 'Drawbacks to consider' section for LLCs. Identify a major limitation of an LLC from this section.
State the starting cost for an LLC as '$0 + state filing fees'. Identify that LLCs protect personal assets from business liabilities (or similar phrasing). Identify that LLCs offer maximum flexibility in how a business is managed, without requiring a board of directors (or similar phrasing). State that a major 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'.