A single-member LLC is a limited liability company that is owned by one member or partner. Learn how single-member LLCs are set up, taxed and more.

How to Manage a Single Member LLC. Although single-member LLCs combine the flexibility of a proprietorship with the liability protection of a company structure, entrepreneurs should take care to ...

Either choice is also beholden to the articles of organization and the operations agreement. Member- and manager-managed LLC differences?

How to Keep Minutes for a Single Member LLC. State LLC law generally does not require LLCs to hold regular meetings and keep written minutes of meetings. This is usually seen as an advantage for ...

A single-member LLC is not the same as a sole proprietorship. Unlike a sole proprietorship, an SMLLC provides a hybrid business structure that is a separate legal entity from its owner.

Your LLC management structure is an important decision during the formation process. Learn the differences between member-managed vs. manager-managed LLCs here.

Answer all your single-member LLC questions with this handy, FAQ guide today.

That's true for single member LLCs and multiple member LLCs. However, in practical terms an LLC can operate very similarly to a corporation that can sell shares.

A single-member LLC is typically taxed as a sole proprietorship. Any profits, losses, or deductions that are business expenses that reduce taxable income are all reported on the owner's tax return.

If all employees are employed by the single member (for example, the tax-exempt organization), the practitioner may want to review and formalize the cost-sharing and reimbursement (or management fee) ...

Member-managed LLCs vs. manager-managed LLCs differ on who makes daily business decisions. Some LLCs grant owners this power, and others appoint a manager.