Limited liability means, quite simply, that only the assets of the corporation are subject to any litigation losses. It is called the corporate shield because the fact that it is a corporation, or in your example, an LLC, it "shields" the assets of the owners from losses due to litigation against the company they own. I know this well because I have made it a competitive advantage for decades. While most my competitors operate through an LLC, I refuse. I don't need the corporate shield because I am not going to screw up and get sued. And I am a pretty ripe target, which you probably have no clue as to what that means. But I can't count the times that my refusal to incorporate has resulted in me gaining the client against those chickenshit LLC's.Good God Almighty but you are dense. In the case of the car. You wreck the car and hurt someone who gets sued? Why you do. You wreck a corporation and hurt someone in the process who gets sued? Why the corporation does and the only assets in jeopardy are those of the corporation, not yours. Why? Because you and the corporation areYes, they are different people. I mean you can't have your cake and eat it too. Corporations are considered a separate entity than the owners themselves. Part of that is called the corporate shield, hell, for some it is the primary reason to form a corporation. But then there is the whole Citizens United ruling, which made the claim that corporations were "Individuals" with a right to free speech. So, you can't call the corporation and the owners one in the same when it suits your purpose, and then turnaround and claim they are different people when it suits your purpose. Again, remove the corporate shield, put the same limit on political contributions on corporations as individuals, and hell, I am there. No corporate tax. Of course you remove the corporate shield and the stock market crash that follows will make Black Monday look like a bull market.After this ignorant diatribe ^^^, you have some gall calling anyone a dumbass, Dumbass.That is like the tax on dividends. That is not applicable to the corporate tax. Plus, it is two different people. The people that is the corporation and the people that is me. The double tax argument is still STUPID. And you are still a dumbass
You and your friend start a business in your garage. You pay for the business together.
You earn $1.
The government charges tax on the $1 on the pool you and your friend created.
You split the money that's left.
The government charges you taxes on the same money again.
That's double taxation. Get your stupid shit out of here
The Democrats are a party of Cliff Clavins. They know nothing about business, and they think that leftist lawyers know more than economists and finance people.
When he said corporate taxes and dividends are paid by different people, wow, Cliff Clavin filled the sky with his stupid ignorant shit. both are clearly paid by the owners of the company, which are clearly the SAME PEOPLE.
The shit that Cliff Clavins like Winston make up. Then there's his username when he loves Big Brother. I'd say he's confused, but he's just more a lying idiot ... Cliff Clavin ...
You're an idiot. So has your doctor taken your instruction on how medicine works, Cliff Clavin?
Cliff Clavin / Winston: Well you see, kaz, the owner of a car doesn't pay to register a car, the car pays that.
Cliff Clavin / Winston: Well you see, kaz, the owner of a house doesn't pay property taxes on a house, the house pays it.
Cliff Clavin / Winston: Well you see, kaz, you don't pay sales taxes when you buy gum, the gum pays it.
Yes, you are that big a moron
TWO FUCKING SEPERATE ENTITIES
Now STFU and go watch a Lifetime movie. You are not intelligent enough to carry on a conversation here.
You don't know what profits are, God you're stupid.
Winston: You see kaz, if you have limited liability, that means you don't have to pay bills!
God you're stupid. I know what limited liability means. You keep talking about limited liability in terms of somehow that means that different people pay a company's expenses than the owners of the company. You're a moron