DBA versus LLC for USA citizen living in Australia with existing USA company
Asked by: dov - 7 October, 2011
Hi Lloyd:
Thanks for answering my question about my S-corp. I know about dissolving a corporation and I understand I can operate as a DBA. However my business involves a sporting product and I really need protection of my personal assets should a liability issue ever arise and I get sued. Does that mean a LLC is my only other option. Thanks for your reply.
Hi Lloyd:
Thanks for answering my question about my S-corp. I know about dissolving a corporation and I understand I can operate as a DBA. However my business involves a sporting product and I really need protection of my personal assets should a liability issue ever arise and I get sued. Does that mean a LLC is my only other option. Thanks for your reply.
Answered by: Lloyd Johnson - 7 October, 2011
Dov,
I would say an LLC would be the kind of entity you are looking for, since you decided to dissolve your S-Corp. In fact, depending on the state where its registered you might be able to convert the Corporation into LLC without dissolving it (few states indeed allow that).
Dov,
I would say an LLC would be the kind of entity you are looking for, since you decided to dissolve your S-Corp. In fact, depending on the state where its registered you might be able to convert the Corporation into LLC without dissolving it (few states indeed allow that).
