What Is a Single Member Limited Liability Company?

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Note: If you live in Nevada, do business in Nevada, or are a non-US resident, then this information doesn’t apply to you. Regardless of what you’ve read online, most people should not be forming an LLC in Nevada. In order to best explain the reasons, let’s look at an example: Let’s discuss the issues that will arise in this situation.

Single-member limited liability companies (SMLLCs) are limited liability companies (LLCs) with only one member (owner). As with a corporation, operating a business or investment activity as an LLC generally protects your personal assets from exposure to liabilities related to the activity — under applicable state law.