![]() ![]() Related Q: A 10-Step Guide To Mastering Your 1094-C And 1095-C Forms Team Management What are the drawbacks of a multi-member LLC? LLCs are also eligible for the 20% pass-through deduction. ![]() Businesses can opt to be taxed as an S corp or C corp.Members can be individuals, LLCs, or corporations.There’s no limit to the number of members allowed.Here are a few other benefits of starting a multi-member LLC: The exception is if you sign a personal guarantee for the business’s debt. If your business is unable to pay its company’s debts, creditors can only go after the business’s assets. The liability protection of a multi-member LLC extends to the business’s debt. ![]() That means if someone sues your business, in most cases, only the business’s assets are at stake. The biggest benefit of forming a multi-member LLC is that the owners (known as members) have personal asset protection. What are the benefits of a multi-member LLC?
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