Limited Liability Company--An Alternative Business Organization
Kolb, Tracy L.
Strinden, Jon E.
Saxowsky, David M.
Limited Liability Companies is a new business organization that Â· combines the taxation of a partnership with the limited liability of a corporation; Â· can facilitate the transfer of property ownership from one organization to another; Â· offers an alternative for businesses involved in environmentally sensitive activities; Â· must meet the same requirements as North Dakota farm corporations if the company engages in farming or ranching in the state; Â· may not provide much opportunity to reduce self-employment tax; and Â· will not change lenders' expectations that owners personally guarantee the repayment of the business' loans.
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