What is boi for llc?

A limited liability company (LLC) is a type of business structure that combines the limited liability protection of a corporation with the flexibility and tax benefits of a partnership.

When forming an LLC, owners or members are not personally liable for the debts and liabilities of the company. This means that their personal assets are protected in case the business runs into financial trouble.

LLCs are popular among small businesses and startups because they offer a simple and cost-effective way to establish a legal entity. They also have the flexibility to choose their tax treatment as either a partnership or a corporation.

In order to form an LLC, owners must file articles of organization with the state and create an operating agreement that outlines the management and ownership structure of the company.

Overall, forming an LLC can provide business owners with protection and flexibility while also offering tax benefits. It is important to consult with a legal or financial professional to determine if an LLC is the right structure for your business.