Single Member LLC
Establish your solely-owned business with ease and confidence
What is a Single Member LLC?
A single-member limited liability company (SMLLC) is when a business is owned by one individual, known as the member. By registering as a SMLLC, the business owner is establishing that they alone take full responsibility for the company, including all tax obligations. SMLLC’s are a common choice for sole business owners as it provides them with many benefits, including the ability to hire employees in the future.
Why Choose Single Member LLC Formation?
An SMLLC can have many benefits, but it is best to speak to an expert before registering so you can be confident it is the right choice for your business.
Limited Liability Protection
In a SMLLC, your personal assets are protected from business liabilities, ensuring your personal finances remain separate from your company’s.
Tax Advantages
With an SMLLC, you can be taxed as either a sole proprietorship or as a corporation. Both can have advantages so speak with an expert to know which is better for you.
Name Establishment
By being an SMLLC, your business will be on public record so competitors won’t be able to copy your name. It will also give your name more weight and legitimacy.
How to Get Started
At Solon Accounting, we’ll walk you through every step in the process for setting up a single member LLC. Our team will handle everything from the state registration to helping you obtain a tax identification number. By working with our team of entity experts, you can be confident that a SMLLC is the right choice for your business and will provide you with the most benefits.