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LLC

Oct 08, 2018

LLCs: How Limited is Your Liability?

The New Jersey Legislature adopted the New Jersey Limited Liability Company Act in 1993 (the “1993 Act”)1 and thereby ushered in a new form of business enterprise: the limited liability company (LLC). The 1993 Act enabled business owners to “take advantage of both the limited liability afforded to shareholders and directors of corporations and the pass through tax advantages available to partnerships.”2 Thus, LLC Members reap the dual benefits of limited liability afforded to corporate shareholders and pass through tax advantages available to partnerships.» Read More

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