In states where an LLC may be organized by only one member,________ can obtain the benefit of the limited liability shield of an LLC.

Question

Quizplus · Accepted Answer

Only the sole proprietor can obtain the benefit of the limited liability shield of an LLC in states where an LLC may be organized by only one member. This means that the LLC's debts and obligations are limited to the business's assets, and the individual's personal assets are protected from potential lawsuits or claims against the business. Other entities such as LLPs, S corporations, and C corporations require at least two members and have different structures and liability protections.

In States Where an LLC May Be Organized by Only