What does PLLC stand for?
A PLLC is a Professional Limited Liability Company. It is a limited liability company that is set up to provide professional services to one or more people and to allow them to be taxed differently. ...
Is a limited liability company necessary for a small business?
If you just so happen to own your very own small business, you do not necessarily have to set up a limited liability company. It is not legally required. ...
Asked in Dentists
Should I be concerned if my dentist has llc after his name?
"LLC" or "llc" means "limited liability company". It is applied to a virtual person a "company or business". Say you dentist was called "Jones" then he could set up a company called "Jones dental practice" and if his practice was set up as a limited liability company, "llc" should be add after the name of the practice. However if your dentist is using "llc" after their name as a qualification, this is meaningless and if your dentist has no other qualifications then...
Is a married woman that is a gifted member of a Limited Liability Company at risk of losing interest when filing bankruptcy in a community property state?
If it has value, and can be transferred or liquadated with that value used to pay those who are owed money in the BK, I can't see why it wouldn't be. Nor why it shouldn't be. Limited Liability Companies are set up to limit liability in these situations similar to a corporation. If you are in bankruptcy or sued, generally creditors cannot take assets of the LLC if you are a limited member. ...
Asked in Companies, Definitions, Legal Definitions
What is a private limited company?
A limited company in the United Kingdom is a corporation whose liability is limited by law. There are three main types of limited companies which are set up by the Memorandum of Association & Articles of Association: private company limited by shares (Ltd.)Similar to Pty. Ltd. private company limited by guaranteeThis type of company does not have share capital but is guaranteed by its "members", who agree to pay a fixed amount in the event of the company's liquidation. Frequently charities incorporate using this...
Asked in Small Business Loans, Business and Industry, Startup Finance, SBA-Secured Loans, Franchising
Compare a sole trader with a franchise?
Sole trader - where a business is set up by one person Advantages: Has their own say Makes their own decisions. Disadvantages: Unlimited liability - have to pay everything yourself if you lose money. Franchise - where you buy into an existing company e.g. Mcdonalds Advantages: You are part of a well-known company Limited liability - if you lose monet, you only lose what you put in. The company you have bought into will provide the money ...
Asked in Business Plans, DIY Projects
How do you set up a company as limited or LTD?
The first step to setting up a company as a Limited or LTD., is to file incorporation papers in the state the company wishes to do business or operate its headquarters in. Once incorporated, the company should register with the proper tax authority as a limited or LTD. organization. ...
Asked in India
How Oil India limited companies corporations are set up?
Indian Oil Corporation Limited company is set up as a state-owned oil and gas corporation. As of 2012, the company ranks as the world's 83rd largest public corporation. ...
Asked in Business & Finance
What does unlimited liability mean to the owner of a business?
The owner has personal liability for anything that happens. That is whi it is good to have an LLC (limited liability corporation). Mine cost $60 to set up on the state's web site. If a customer is killed in my shop all I can lose is the business, not my home. ...
Asked in Civil Lawsuits
Is a swing set in a trailer park swing an insurance liability?
Depending on the type of insurance that the management company has on structures of that nature. Consult your local insurance company for further information. ...
Asked in Business & Finance
Four Kinds of Partnership?
General partnerships are the most common and basic, where all partners are liable for all contracts and torts of the partnership. Limited partners can accompany a general partnership and are liable only to the extent of their contributions to the company. An Limited Liability Corp (LLC) is available as a replacement to a general partnership that restricts liability to a partner. Many states offer this option to businesses, but it is a newer set of regulations and open to more uncertainty. A...
How many people are needed as human resources to set up a small business?
Basically not more than 1 is required to set up a small business as they increase liability for the company, as company grow and become mature you can always keep 2-3 HRM. ...
Asked in State Laws
Is it legal to carry a lock picking set in Missouri?
Yes, it's legal to carry a lock picking set in Missouri.
What is a Pty Ltd?
In South Africa you have either a public company or a private company (I wil ignore the other two for now). Private company nust include designation (Proprietary) Limited or (Pty) Ltd behind its name. Public company must include Limited or Ltd behind its name. In this format (at least in Australia) it is short for Proprietary Limited company. This is a private company. It is run by directors and owned by shareholders. Very simple business structure to set up. Do a search on "Proprietary Company" to...
Asked in Insurance, Auto Insurance
If you buy a car and have no auto insurance how long do you have to get insurance?
no coverage at all. Call an insurance company before hand and set up a binder policy at least for the liability. ...
Asked in Business & Finance, Business and Industry
Why are limited companies so popular?
The principal benefit of trading as a limited company has always been the limited liability of the company's officers and shareholders. As a sole trader or other non-limited business, personal assets can be at risk in the event of a failure of the business, but this is not the case for a limited company. As long as the business is operated legally and within the terms of the Companies Act, the personal assets of directors or shareholders are not at risk in...
How do you set up a partnership to buy and sell stocks?
I would suggest an LLC (limited liability company). This type of company has become very popular in recent years due to certain advantages. LLC's provide you with the benefits of a corporation, that is limited liability, without the double taxation that a normal corp. would incur. So, you could set up your LLC as an investment company, without having to risk your nestegg. This is definitely win-win. The details of setup should definitely be set up with a good financial attorney, but...
Asked in Insurance
Is there a number of accidents for a certain length of time where an insurance company will drop you?
All insurance companies are different with their own set of rules in regard to when you are more of liability and they decide to drop you. Check with your own insurance company for a more specific answer. ...
Asked in Business Law
In a business partnership can my business partner be held responsible for all the debts of the business?
That depends on the laws of the country in which the business is set up and if the company is private or limited liability. If private then the answer is likely to be yes because the partners will be jointly and severally liable for the debts, the creditors will come after all partners but will seek to recover their money from whichever partner they can. ...
Differences between pvtLtd and plc?
i think u got wrong about it. both terms stands for private limited company. (opposite of public limited company or LTD.) A private limited company is owned privately by a small group of people such as a family. They are not allowed to offer shares (in the company) to the general public and can operate through just one director. A private limited company can not trade its shares on the stock market. . Although private limited companies are usually small in size, they are...
How can you get your company registard as a limited company?
Most accountants will form a limited company for you; however for those peoplewho intend to set up their own Limited Company, the following basic guide outlines the requirements for registering your company. Registering your Limited Company. Before your business can set up as a limited company (or become "incorporated") it needs to be registered with Companies House. You will need to complete the following documents and return them to Companies House to complete the incorporation process: Memorandum of Association - includes information on Company Name,...
What is the difference between company and partnership?
= The Difference Between a Partnership and a Limited Company = The main difference between a partnership and a limited company is that the liability of a company's shareholders is limited to the amount of the unpaid amount on the shares that they own. Partners on the other hand, can not restrict their liability (unlimited liability) and therefore can be held personally responsible for any unpaid debts the partnership incurs. This is potentially very dangerous as partners are joint and severally liable for...
What is the Missouri age of consent and underage relationships?
Missouri has set it the age of consent at 16. Some states have set it at 17 or even 18. There is no difference based on gender. ...