In recent years, the limited liability company (LLC) has become one of the most popular business structures. The main reason for their popularity is that LLCs enjoy all of the major benefits of a corporation but are much more flexible. Some of the key aspects of this flexibility include:

• "Pass through taxation." This means that owners can report their share of profit and loss on their individual tax returns without filing a separate corporate tax return
   
• Owners do not need to be U.S. citizens or permanent residents.
   
• LLCs can be owned either by individuals or other corporate entities.
   
• LLCs do not need to hold annual meetings or record minutes.

Whether your business is small or large, an LLC is an extremely attractive option for you to consider. And, although all 50 states now recognize LLCs, Pennsylvania remains a leader in terms of corporate law that is beneficial to LLCs. Whether or not your business is located in Pennsylvania, you can take advantage of this opportunity and set up your own Pennsylvania LLC. The attorneys at Elliott & Davis are committed to offering you customized service, clear communication, and peace of mind as we guide you through the process of forming your LLC.