Thread: DBA vs. LLC
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Old 01-12-2004, 06:34 PM
capmaint capmaint is offline
LawnSite Member
Join Date: Oct 2003
Location: Mesa, AZ
Posts: 31
Chevyman, as I understand it, if you were not an LLC and you were to be sued you could be held liable for whatever the amount of the judgement is in excess of your insurance policy limits. If you carry 1 mil in insurance but for some reason there was a judgement against your for 1.2 mil you are responsible personally for the .2 mil. As an LLC, the liability is limited and capped at the amount of insurance you carry. Thats how my CPA 'splained it last week to me as I contemplated the same issue. hope that helps!
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