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What is a Disregarded Entity in North Carolina?

What is a Disregarded Entity in North Carolina?

What is a disregarded entity? In the most basic sense, it is a business type that the federal government ignores for tax purposes. The most common disregarded entity for federal income tax purposes is the single-member limited liability company (SMLLC). Let's look at...
What is Your Legal Duty as an LLC Member?

What is Your Legal Duty as an LLC Member?

As a member managed LLC member, part of your role is to act in good faith and put the interests of the LLC above your own. Your fiduciary duty includes making decisions that are in the best interest of the LLC. It's also crucial that you do not take advantage of your...