29366cf9_ess_Structure__Ownership_Type__ation_Structure_Considerations_2
[0] Limited Liability Company (LLC) [1] Yes [3] Members are not typically liable for the debts of the LLC [4] Some formal requirements but less formal than corporation [5] Members have an operating agreement that outlines management [6] Depending on structure there is no tax at the entity level. Income/loss is passed through to members [7] Taxes based on business entity income. Responsible parties may have liability for trust funds [2] 
Medium
F o r m a t i o n D i f f i c u l t y
L o w
M e d i u m
M e d i u m / H i g h
Access Washington - Determine Your Business Structure (Ownership Type)
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