What is a LLC?
A limited liability company (LLC) is a fairly new type of entity. The New Mexico LLC Act was adopted in 1993, which provides somewhat the same protection for the owner as does a corporation. By choosing to file an LLC, your personal assets are protected if your company gets sued.
LLC provide liability protection
The most important reason why people form a LLC today is the liability protection. This protection is created because the formation of the LLC creates a separation from the LLC with the owners. This separation allows the owners to be free from any lawsuit worries. The debts and obligations are not transferred to the owners and is maintained by the company.
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