LIMITED LIABILITY COMPANIES
Limited liability companies in Utah were created by Statute more than 20 years ago. By legal standards, that means they are relatively new. Even so, they have become more and more popular each year. Limited Liability Companies have several advantages:
- Asset protection benefits for owners;
- Ease of formation;
- Tax flexibility; and
- Limited requirements for ongoing paperwork and meetings.
Limited Liability Companies have some disadvantages:
- Tax flexibility can backfire;
- Confusion about roles;
- Difficulty in attracting venture capital; and
- Generally not suitable for public trading.
If you believe that a limited liability company is right for you, please visit our limited liability company formation page.