If an LLC is Inactive, are its Members Still Protected from Judgments and Liabilities?

An LLC provides liability protection for any and all debts or obligations incurred in the name of the LLC.  If the members personally guarantee any LLC obligation, the entity structure will not protect the members from such obligation.

Also, if the members have not operated the LLC properly (i.e. did not maintain a separate bank account, did not enter contracts in the name of the LLC, did not keep accurate or sufficient company records, etc.), then creditors may have the opportunity to “pierce the veil” of the LLC entity and pursue the members personally for any LLC obligations.   

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If I Am a Member in an LLC That Owes Unpaid Taxes, Am I Personally Responsible?

The taxing authority for the Limited Liability Company (LLC) has the ability to determine who is responsible for making the tax payments or authorizing tax payments for the LLC — these individuals are referred to as the “responsible persons”.

The “responsible persons” indeed may be personally obligated to pay the LLC’s tax obligations. But not always. 

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What is the Process to Form a Nevada LLC To Do Business Primarily in Another State?

Some people wish for their business to have the protections offered by LLC status in Nevada, but then wish to do business in — and even have offices in — another state. To accomplish this structure, first the person should form the Nevada LLC utilizing either Standard Legal\’s LLC legal forms software or Standard Legal’s … Read more