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, a Limited Liability Company Organized under the State Laws of  Form

, a Limited Liability Company Organized under the State Laws of Form

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on March 4th 1977 the Wyoming State Legislature passed a statute that authorized the creation of the United States's first limited liability company the statute presented one of the most sweeping changes in business organization law in the country's history the LLC offers the taxation benefits of a partnership with additional flexibility and the liability protection benefits of the corporation without many of the Corporations burdensome formalities a simple internet search of why form an LLC reveal statements such as make business changes easily protect your assets and avoid double taxation in this module we'll examine why such phrases are associated with LLC's why it's a popular business form for smaller companies and discuss how entrepreneurs form and operate LLC's an LLC is the offspring of both a partnership and corporation and shares traits from both there are four common reasons to form an LLC first the FLC can avoid double taxation

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