Limited liability companies Flashcards by Margo P

Q

Who does an LLC need to be registered with?

A

The DOS and the DBPR

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Q

An LLC offers the best features of __ and ___

A

corporations & partnerships

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Q

In an LLC, are owners protected from personal liability for business debts?

A

yes

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Q

Is it true that an LLC offers the greatest flexibility in how it passes income and deductions to its members?

A

yes

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Q

What is the minimum requirement for number of active brokers for an LLC?

A

At least one active broker as a managing member to manage the real estate services of the business

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