Advantages of the limited liability company are:
- Debt and obligation are limited or restricted to their own
investment done.
- Taxation benefit as revenue will be considered as personal
income and no other tax will be imposed.
- Can have as many as people be owner and there is no limit to
it
- There is no requirement of having board of directors or
anything such. Owner can run the company as per his own
discretion
Disadvantage of the limited liability company are:
- Issue in raising fund and brining capital to the business like
corporates do
- Government restriction applies on business as per the guideline
for the LLC
- Paying higher taxes in context of personal income
- Different state law takes LLC defiantly hence a lot of
confusion in doing business