Originally Posted by
Electroman
I always wondered why they give you an "LLC" option, anyway. Just like any other business, an LLC is either a sole proprietorship, a partnership or a corporation. I operate two businesses - both are sole proprietorships and also LLCs.
No. You're conflating taxation treatment with organization structure. LLCs are separate and distinct organizational types from sole proprietorships, partnerships and corporations.
When one of your LLCs is sued (not by Chase as you personally guaranteed that debt), will you willing say it is a sole proprietorship and offer up your personal assets to satisfy any judgment?
My Ink Plus cards are for LLCs and no other type of business.