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Limited Liability Company Formation
A Limited Liability Company (LLC) is a legal business entity registered with the Secretary of State. An LLC is treated as a partnership for income tax purposes and a corporation for liability purposes. A contractor cannot use an LLC to perform construction services. LLCs are typically used in holding real estate and in speculative real estate investing. Neither United States Citizenship nor California residency is required to form an LLC.
A Limited Liability Company (LLC) is a legal business entity registered with the Secretary of State. An LLC is treated as a partnership for income tax purposes and a corporation for liability purposes. A contractor cannot use an LLC to perform construction services. LLCs are typically used in holding real estate and in speculative real estate investing. Neither United States Citizenship nor California residency is required to form an LLC.