The Tennessee LLC
A Tennessee limited liability company (LLC) protects your personal assets just a corporation would. The tax advantage an LLC has is “pass through” taxation. This mean, the owner will claim any profits or losses that the LLC has. You may want to contact a tax professional for more information, since taxation and state fees vary in every state.
The LLC has many benefits other than pass through taxation. It does limit the liablity that you as an owner and individual can assume if the company is sued. The owners are not liable for the debts of the company. Therefore, your home and other assets owner by the owners or members are not vulnerable. Only the business assets of the company can be liable for the operation of the company.
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