Liability Issues

Liability Issues

 

One of the most important reasons for forming a corporation may be to protect your personal assets in the event of a business-related lawsuit or if your business should fail. Ordinarily, stockholders of a corporation are not held personally liable for the payment of the corporation's debts, except by reason of their own conduct or acts. Such limited liability is generally not available to a sole proprietorship or general partnership in which the individuals or partners are generally personally liable for all business debts. However, such limited liability is also available in a limited liability company ("LLC"), and should you wish, DCS can help you form an LLC.

Read about Corporation Franchise Taxes