Samuel Fernandes de Almeida (Partner) writes an opinion article for Frontline on LLCs - Limited Liability Company, "legal entities endowed with their own legal personality, even though for tax purposes they lack tax capacity".

 "Limited Liability Companies are very common corporate vehicles in the USA - in particular in the state of Delaware for the additional tax advantages granted - characterised by the total separation between the company and its members, the exclusion of members liability for the company's debts and obligations, as well as tax transparency regime or a pass-through taxation, under which the company does not pay taxes directly, with the net taxable income being allocated to its members."

 Read the article here.