@M-MTax wrote:
No Carl that's why it's called a LIMITED LIABILITY Company.......owners have LIMITED LIABILITY......liability is limited to the assets owned by the LLC.
Hypothetically, you are correct. However, the protective laws vary from state to state. And MANY people (in my experience, most people) 'mix' their personal finances with the LLC, which could void the protection of the LLC. But again, the laws vary from state to state.
