CMRS Practice Questions - NCRA Certified Manager Of Reporting Services (CMRS) Exam

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A new court reporting agency owner is deciding between operating as a sole proprietorship and forming an LLC. What is the PRIMARY benefit of an LLC structure?

Lower annual tax rates in all states Limited personal liability — the owner's personal assets are generally protected from business debts and lawsuits Elimination of the need for business insurance Automatic NCRA membership for all reporters

Correct Answer:

Limited personal liability — the owner's personal assets are generally protected from business debts and lawsuits

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