• Limited Liability Companies and the Passive Activity Loss Rules
  • July 30, 2003
  • Law Firm: Strauss & Troy, A Legal Professional Association - Cincinnati Office
  • The limited liability company ("LLC"), a relatively new form of doing business, is gaining popularity as the choice of entity for many small business owners. An LLC is a "hybrid entity" that borrows advantageous elements from other business entities. For example, LLCs offer limited liability protection similar to that of corporations, while simultaneously offering the flexibility, informality, and favorable tax treatment afforded to partnerships.