Published Feb. 8, 2013
Q: What are limited liability companies (“LLCs”), and what should businesses know
about them?
A: LLCs are a new type of business entity that emerged in the early 1990s. They have many important legal and tax characteristics, but the key ones are these:
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Liability shield. LLCs provide their owners (called “members”) with a statutory liability shield that is essentially identical to the corporate shield.
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About the Author
John Cunningham is a N.H. business lawyer whose practice is focused on LLC law and tax. He chaired the N.H. Business and Industry Association committee that drafted the Revised New Hampshire Limited Liability Company Act, a radical revision of New Hampshire LLC law that went into effect on January 1st. LLCs are, by a wide margin, the entities of choice for N.H. business start-ups.
Published Feb. 7, 2013
Ask SCORE
I’ve recently taken my business plan for a new and innovative consumer product to several banks seeking funding, but have had no success. What are some other financing options that might be available to me?
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Current
City: Cambridge, MD
Hotel,hospitality, business travel and tourism development 42 years
Business development consulting 4 years
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Current
City: Palm Desert, CA
30 years experience at all levels of light and heavy manufacturing management.
Expertise: Manufacturing/Assembly Management, Start Up, Business Planning, Leadership, Quality Control, Budgeting, Logistics and Manufacturing/Plant Engineering.
Skilled and accomplished at all levels of manufacturing manage from floor level supervisor to plant manager. Developed business plans and successfully launched several new products. With 30 years experience in manufacturing I am well grounded in start up, quality control, budgeting, planning, supply management and manufacturing/plant engineering.
I have a Business Administration Degree and Associates Degree in Industrial Engineering from the University of Michigan.
Currently reside in Palm Desert California, am a member of the Detroit SCORE Chapter and have been counseling since 1998.
Will phone and site counsel as required.
Have been counseling since 1998.
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Education
Bachelors Degree in Business Administration University of Michigan
Associates Degree Industrial Engineering University of Michigan
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City: Norwalk, CT
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My partner and I have been running our laser engraving business ourselves for the past two years. We’ve reached the point now where we’re both completely maxed out, so we’re considering hiring at least one employee. Where do we start Read more.....
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Over the past 15 years, nearly two-thirds of new jobs have been generated by small businesses. Yours may be one of them. That’s good news for your local economy, for your customers whose expectations for quality service are higher than ever, and for you, as you can focus your energies on other priorities.
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Current
City: Rockport, TX
35 years as a CPA, working for an international firm (7 years) and independently providing audit and tax services to medium sized companies. 5 years teaching accounting courses at California State University, Monterey Bay. Nonprofit experience includes CFO at Hospice of the Central Coast (7 years), accounting and taxation for various small nonprofit organizations. Rental manager for short-term rentals (7 years).
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Education
1977 BS-Accounting California State University, Sacramento
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Current
City: Muskegon, MI
Senior human resources executive medium sized companies of 3000 employees and international subs.
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<p> BA Political Science University of Pittsburgh</p>
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City: Fairhope, AL
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Education
BS Engineering, USMA, West Point, NY
MS Civil Engineering, Construction, Stanford University
MBA, USIU, Mexico City Campus
MA Political Economy of Latin America, National Autonomous University of Mexico, Mexico City
Defense Language Institute, Spanish Language Course
Inter-American Defense College Strategic Planning Course
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