Article written for: Orlando Business Journal
Limited liability companies have become the entity of choice for small business owners and are commonly used by professionals in asset protection planning. Choosing to form an LLC instead of a corporation may be prudent, but it raises the question of where to form the LLC. There are several factors to consider in deciding where to establish the entity. Picking the right LLC jurisdiction may be as important as the decision to use an LLC.
In 2010, the Florida Supreme Court issued a ruling that eviscerated the effectiveness of the Florida single member LLC for asset protection purposes.