subject: Maryland Attorney Services Online to Form a Maryland LLC [print this page] A Maryland Limited Liability Company created by a Maryland Attorney is a business entity created under Maryland State laws which has the characteristics of both a corporation and a partnership. Like a corporation, the owners of an LLC are not personally liable for business debts. An LLC is a pass-through entity. What this means is that all the profits and losses of the LLC "pass-through" directly to the Members of the LLC. With a typical corporation you are subject to "double-taxation" as you are taxed both at the shareholder level as well as on the personal income tax level. However, by utilizing an LLC you are classified as a pass-through entity and thus only subject to one level of taxation and avoid double taxation of a typical corporation.
Maryland Attorney Services Online to Form a Maryland LLC
By: Michael Dar
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