Can an LLC have only one member?

Answers:

• Yes, a Limited Liability Company (LLC) can have only one member. An LLC with a single member is often referred to as a Single-Member LLC (SMLLC). This structure provides the benefits of limited liability protection while allowing for easier management and fewer formalities than multi-member LLCs. Single-member LLCs are treated as "disregarded entities" for federal tax purposes, meaning that the income and expenses of the LLC are reported on the owner’s personal tax return, unless they choose to be taxed as a corporation. However, it's important to check the specific regulations in your state, as rules may vary.