Memphis, TN asked in Business Formation for Tennessee

Q: I just opened up my small business in Memphis, Tn., a full service lash salon, should i become a llc?

full service lash salon & i own the business myself. What benefits my company if I register?

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1 Lawyer Answer

A: The primary advantage to forming a LLC (limited liability company) is that you can possibly avoid personal liability for alleged torts or breaches of contract on the part of the company. There may also be tax advantages for your particular situation.

A limited liability company is much like a corporation in this regard. The difference between a LLC and a corporation is that, for small companies like yours, the paperwork involved is normally less complicated.

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