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Florida LLCs Lack Certain Protections Fo...

Limited Liability Companies (LLCs) are a favorite type of of business entity for many businessmen.  Advantages of LLCs include the following: Limited liability - no “member” is liable for anything other than the amount of his investment in the LLC, regardless of how involved that member is in the daily operations of the business. Taxed as a partnership - can elect to be treated as a partnership, so LLC can operate as a “pass-through” entity and avoid double taxation (“check the box” option), and there is flexibility in allocation of gains and losses that...