Guest post by Jennifer K. Halford, Esq.
Limited liability companies, or LLC's, are a popular choice for many business owners - especially when there is more than one owner.
This isn't surprising given the tax incentives and liability protection that an LLC can provide. And setting up an LLC on your own is possible.
Yet lately I have noticed that few business owners realize before they create an LLC that it is not simple to get out. Leaving your business is not as easy as selling your LLC interest to someone else. There are tax, securities, and personal liabilities that must be addressed.
To limit your liabilities, be sure to do these three things before you sell your LLC interest: