Expressing the legal limitations and realities of how Limited Liability Companies (LLCs) are formed and how they operate, this tax guide seamlessly blends jargon-free writing with concise, expert explanations. From the hybridized origins of the LLC designation to the modern day difficulties brought on by con artists, this guidebook covers every need-to-know aspect of this unique and flexible entity. Chapters also discuss, at length, issues such as filing articles of organization with state authorities, properly paying required fees, maintaining a minimum capital base, and heeding to rules of at-risk and loss limitations.