Bill and his wife, Vickie, want to start a company that develops training sessions for corporate clients. They would like to share the decisions, have few start-up costs, and protect their personal assets. Which of these would suit their needs best?

A. Corporation

B. Limited liability corporation

C. Partnership

D. Sole proprietorship

Question

Bill and his wife, Vickie, want to start a company that develops training sessions for corporate clients. They would like to share the decisions, have few start-up costs, and protect their personal assets. Which of these would suit their needs best?

 A. Corporation

 B. Limited liability corporation

 C. Partnership

 D. Sole proprietorship

cyanidemonster · Answer

B Limited Liability Company. 
Protects personal assets. Personal assets cannot be used to pay-off debts; no problem of double taxation. Protects personal assets but you maintain control of all decision making