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Are there any liabilities that you would still retain by the LLC status? If so, please...

Are there any liabilities that you would still retain by the LLC status? If so, please explain.

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Answer #1

LLC status is defined as status given to the limited liability company.
Such status stands as good status or bad status based on the performance of such company.

Even though LLC is a limited liability company is it still have various kinds of liabilities.
Being a shareholder of LLC there are various liabilities, shareholder have guarantee to pay .
These liabilities are upto limited limit which the shareholders agreed to pay while purchasing shares.

It can be a sum of money to be paid at the time or before liquidation.

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