The Limited Liability Company (LLC) Is A Hybrid Entity
The LLC offers the pass-through taxation of a partnership and the limited liability of a corporation.
|CORPORATION||LIMITED LIABILITY COMPANY|
|A Corporation can have one or more Directors and Officers.||An LLC can have one or more Managers.|
|The hostile creditor can take your stock, if he can prove that you own it.||The hostile creditor can ONLY go after a member’s economic interest in the LLC through the courts. This is called obtaining a “charging order.”|
Wyoming Statute 17‑15‑145. Rights of creditor.
“…The charging order is the exclusive remedy by which a judgment creditor of the member or transferee may satisfy a judgment against the member’s interest in a limited liability company.”
Ask your tax advisor about IRS Revenue Ruling 77-137.