Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and the Yahoo Answers website is now in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

Anonymous

Dumb question but.  If I am a self contractor  llc is that a for profit or nonprofit. Or none of those?? ?

6 Answers

Relevance
  • ?
    Lv 7
    3 months ago

      Believe me, dear.

    You have to jump through WAY more hoops to start a nonprofit.

     

  • DON W
    Lv 7
    5 months ago

    For profit.  The LLC means you have "Limited Liability", which is for your financial protection.  Here's the definition from Investopedia:

    A limited liability company (LLC) is a business structure in the United States whereby the owners are not personally liable for the company's debts or liabilities. Limited liability companies are hybrid entities that combine the characteristics of a corporation with those of a partnership or sole proprietorship.

  • 6 months ago

    That is for profit

  • Judy
    Lv 7
    6 months ago

    profit........................................

  • Ana
    Lv 6
    6 months ago

    Obviously it’s for profit. A nonprofit is only something like a charity 

    there’s nothing wrong with being “for profit”, but you just need to pay your taxes like everybody else

  • Anonymous
    6 months ago

    You're right. Dumb question.

Still have questions? Get your answers by asking now.