Corporations, Partnerships, and Limited Liability Companies

Deciding the best form of entity for your new business, whether it is a corporation, partnership or limited liability company, is the first step in creating a successful business enterprise.† Kious, Rodgers, Barger, Holder & Kious, PLLC can establish and manage any number of organized entities for your business, and we can represent your business in a wide range of civil litigation.
Legal Advice

Q: What is the difference between a partnership and an LLC?

A: A partnership is a type of business entity in which partners share with each other the profits or losses of the business undertaking in which all have invested. Individual partners may be held liable (jointly and severally) for all debts, liabilities and obligations of the partnership.

A limited liability company (LLC) is a separate business entity where the owners (or “members”) have only 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.

Please consult an attorney and a CPA for advice on the type of entity to form.