QUESTION
What is the personal exposure difference between Sole proprietorship and LLC?
Asked on Sep 06th, 2016 on Business Law - California
1 ANSWER
Sole proprietors are liable for their business' obligations; there is no distinction between the business and its owners. Members of an llc are not generally liable for the llc's obligations; the LLC is considered a separate entity from its owners.
Answered on Sep 07th, 2016 at 8:34 AM