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Following is a little info about LLC's but you should do your own due diligence.

A Limited Liability Company (LLC) may elect to pass gains or losses, credits or deductions, on to the members of the LLC in much the same manner that partnerships are taxed.
An LLC status avoids the corporate potential problem of “double taxation.” Individual members may benefit from a reduction in their taxable income, if the LLC operates at a loss. Despite their unique tax treatment, LLC’s maintain full corporate attributes like limited liability.

General Characteristics:
Members instead of shareholders.
A Managing Member runs the LLC.
Special action necessary — all members must consent to LLC status.
Special action necessary — the corporation must file the appropriate IRS forms to show the profits or losses passed to the members.
Tax advantage — may avoid double taxation by passing gains and losses on to members.

Advantages:
Corporate attributes — offers members limited personal liability, the same ones that a C corporation offers.
Tax advantage — corporate income tax payments are not required. Gains and losses are passed on to members who pay taxes in a manner similar to partnerships.
Early loss benefit—LLC’s may operate at a loss in their first years. Members may benefit from a reduction in their personal taxable income by receiving their share of corporate losses.
There are no shareholder restrictions—foreigners, corporations, and partnerships can be members of an LLC

The main difference between a regular LLC and a Close LLC is the restriction on the selling of a member’s shares. A member must offer to sell his/her shares to the other member(s) of the LLC before they can be sold to anyone else. Also, all members must approve of the sale of shares. This works well in a closely held family company, where the parents want to make sure that the children cannot sell part of the company to outsiders.

A Close LLC is not required to hold annual meetings, unless requested by a member.
The Close Limited Liability Company Supplement, articles of organization, and operating agreement of a close limited liability company may also restrict transfer of ownership interests, withdrawal or resignation from the company, return of capital contributions, and dissolution of the company.
The above are general characteristics of the most prominent types of business entities. The information contained herein is provided for discussion and education purposes only and should not be relied on as a substitute for legal advice provided by a qualified attorney or as accounting advice provided by a qualified accountant.
Please do your own due diligence due to recent tax changes.