Startup
LLC
Texas
LLC tax advantages?
I recently started a small business and am considering forming a limited liability company (LLC). I understand that LLCs provide certain protections for business owners, but I am not clear on the tax advantages of an LLC. I would like to know what kind of tax benefits I could expect if I form an LLC.
1 Attorney answer
Answer
Startup
Texas
Jimmy V.
ContractsCounsel verified
LLCs are "pass-through" entities for tax purposes. In other words, there is no income tax due on the company level. The distributions "pass through" to you and you report them on your personal tax return. This prevents double taxation.
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