Ø Can a single person create a Limited Liability Company in USA?
o Yes, a single person can create a Limited Liability Company in USA. Benefit of forming an LLC by a single person shall be to protect its personal liability. Liability of the member shall be limited.
Ø What would be the tax implication on Single member LLC?
o For the federal tax purpose, LLC is treated as pass through entity wherein members are liable to pay tax.
