While the S corporations limit their ownership to 75 persons, a Limited Liability Company has no limit

There are no restrictions regarding the character of members of the Limited Liability Company

Upon formation, tax-free transfers can be made to a Limited Liability Company

A Limited Liability Company can own 100% of the stock of another corporation, where an S corporation cannot be a member of any affiliated group

Members of a Limited Liability Company can get a basis increase for their share of the company’s liabilities

A member can step up his basis in his share of the Limited Liability Company’s property to reflect his outside basis in membership interest

If you would like more information regarding asset protection, trusts, family limited partnerships or the subject of this article please call or email our office.