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In this chapter, we briefly trace the history of the limited liability company (LLC), discuss its legal and tax characteristics and compare it to the traditional ways of organizing and doing business in the U.S.
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Key Phrases - Statistically Improbable Phrases (SIPs):
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second postponed meeting, nontransferring members, other statutory forms, similar organizational document, management operating agreement, first postponed meeting, filing office website, other lawful business, corporation under paragraph, tax classification regulations, capital account bookkeeping, special statutory rules, nonattending member, foreign eligible entity, state tax office, special management team, elects corporate tax treatment, filing your articles, continuation rule, certificate legend, formal management meetings, tax matters partner, divide the gains therefrom, nonmember managers, unperformed services
Key Phrases - Capitalized Phrases (CAPs):
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Special Instruction, Anthony Mancuso, Member Signature, Nonmember Address, Stephen Elias, Default Transfer Rule, Limited Company, Manager Signature, Bob's Big-Lock, Entity Classification Election, Filings Office, Luxor Light, Product Name, San Estudillo
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