The purpose of a Limited Liability Company is, as the name implies, to limit the exposure of its partners to the liabilities of the company. It is not to get preferential tax treatment. An LLC files a partnership tax return just like an ordinary partnership, and its members pay taxes of their shares of the company's profits.
I'm sure one of our attorneys here will do some hair-splitting, but that's my understanding.
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Today's Featured Article - Third Brush Generators - by Chris Pratt. While I love straightening sheet metal, cleaning, and painting old tractors, I use every excuse to avoid working on the on the electrics. I find the whole process sheer mystery. I have picked up and attempted to read every auto and farm electrics book with no improvement in the situation. They all seem to start with a chapter entitled "Theory of Electricity". After a few paragraphs I usually close the book and go back to banging out dents. A good friend and I were recently discussing our tractor electrical systems when he stated "I figure it all comes back to applying Ohms Law". At this point
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