ad4d9912_siness_Entity_Comparison_Chart__4
[0] LLC Limited Liability Company [1] Unlimited number of members allowed [2] Generally no personal liability of the members for obligations of the business [3] Entity not taxed (unless chosen to be taxed), as the profits and losses are passed through to the members [5] The Operating Agreement sets forth how the business is to be managed -- a Manager can be designated to manage the business [6] The members typically contribute money or services to the LLC, and receive an interest in profits and losses [4] 
Articles of Organization Operating Agreement
ILRG: Business Entity Comparison Chart
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