Appellate Practice Attorney serving New York, NY
With some exceptions, the owner of an llc is not personally liable for the llc's obligations, as long as the llc is operated properly as a separate legal entity. This means following all the proper formal governance procedures, documenting them all, and, perhsps most important, keeping the llc's business and finances separate from your own personal business and finances - don't use the llc's bank account to pay your rent, or deposit a payment to the llc into your own bank account, for example.
Answered on Dec 21st, 2016 at 8:54 AM