Kiritsis & Associates
By John Kiritsis, Esq., CPA, MBA, MS, JD, LL.M
Kiritsis Law Group
212 922 0005
Limited liability companies (LLCs) have several disadvantages compared to other business structures, including:
Limited ability to raise capital: LLCs may have limited ability to raise capital compared to corporations, as they may not be able to issue stock and may have a more limited pool of investors.
Complex tax rules: The tax rules for LLCs can be complex and may vary depending on the state in which the business is located, potentially making tax planning and compliance more difficult.
Potential for disputes among members: LLCs with multiple members may have a higher potential for disputes among members, as the management structure can become complex and there may be conflicting interests.
Lack of transferability: Ownership in an LLC may not be as easily transferable as ownership in a corporation, making it more difficult to sell or transfer ownership interests.
Restrictions on the type of business activities: Some states may have restrictions on the type of business activities that an LLC can engage in, potentially limiting the ability of the business to expand or change its focus.
Potential for additional regulations: LLCs may be subject to additional regulations and reporting requirements in certain states, potentially increasing the costs and administrative burden of operating the business.
It's important to note that the specific disadvantages of operating as an LLC may vary depending on the laws of the state in which the business is located. Consulting with a business attorney or accountant is recommended to determine the best structure for your business.
New York Business Corporation Law
New York Limited Liability Company
New York General Obligations Law
NYS Office of Professions
Whether you are a new business startup or a well-established company, our law firm can help you with all of your business law legal needs. For a free consultation, you can call us at 212 922 0005.
Law Offices of Kiritsis & Associates
Phone # 212 922 0005
Manhattan Office (Main Office):
633 Third Avenue
New York, NY 10017
Brooklyn Office (By Appointment Only):
1023 74th Street
Brooklyn, NY 11228
New Jersey Office:
7309 Ventnor Avenue
Ventnor, NJ 08406
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