Worker's Comp. Insurance

Ax-man · Dec 6, 2003

TreeCo

What exactly is an LLC corp. I've seen this here and there but would like to know exactly what it is.

Ax-man · Dec 6, 2003

Originally posted by Mike Maas
If you have a serious injury, what then?

Mike,

When your the owner of a business it is an elective thing wheather you want W/C or not. It is very expensive for owners to have it on themselves, it is better to buy ins. in the private sector.

If you have an accident with no insurance what so ever as an owner your S.O.L. that is why it is better some times to be an employee than owner, it is not all roses when you own the business, the buck stops here so to speak.

Ax-man · Dec 6, 2003

I know what the letters stand for, could you get into it a little deeper as to what defines this type of corp.

MasterBlaster · Dec 6, 2003

From what I unnerstan, its some way to keep yur stuff if and when u get sued....

Ax-man · Dec 7, 2003

Interesting ,, Kinda like declaring bankrupcy, then being able to go buy a new car on credit because you don't owe anyone any more.

ORclimber · Dec 7, 2003

I was advised to go with an S-corp instead of a LLC because the legal protection of LLC's hadn't been proven in court. The thing that interested me in LLC's was they appeared easier to maintain, not having to keep corporate minutes.