Legal Question in Business Law in Missouri

Limited Liability Companies

I have been told that one of the benefits of forming a Limited Liability Company, (LLC), in Missouri, is that the company cannot be sued for more than it's worth, therefore reducing the amount of liability insurance the company would have to carry. Is this true? If not what are the advantages of becoming an LLC?


Asked on 2/08/09, 5:40 pm

1 Answer from Attorneys
Michael R. Nack Michael R. Nack, Attorney at Law

Re: Limited Liability Companies

No, I think that you might have misunderstood or at least you were misinformed. There is no law limiting the amount an LLC can be sued for to the value of the LLC assets. The advantage of forming and maintaining an LLC would be protection from personal liability, and there may be tax advantages as well. You should consult with an attorney to discuss your specific situation and get advice on whether an LLC would be a good idea for you. Good luck.

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Answered on 2/09/09, 11:42 pm


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