Why Is An LLC Not As Protected As C-Corp or S-Corp

Why Is An LLC Not As Protected As C-Corp or S-Corp

In some states LLCs can't dissolve until the debts are paid off. In every state there is the option to negotiate and get an agreement from the creditors to settle for less (the average is <$250,000 in total debts before most states allow a dissolution). If the debts are negotiated down far enough, one may be able to close all the accounts before dissolving.

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