Limited Liability Company (LLC)
A flexible business entity that provides liability protection without the formality of a corporation. Can be taxed as a sole proprietorship, partnership, S-Corp, or C-Corp. Default taxation is pass-through. In California, LLCs pay an $800 minimum franchise tax plus a gross receipts fee ($900–$11,790) that catches many owners off guard.
Where This Matters
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Entity Formation
→Choosing and setting up the right business structure — LLC, S-Corp, C-Corp, partnership — with California-specific tax implications and long-term planning.
Tax Strategy
Legal strategies to reduce business and personal tax burden — entity optimization, deferred compensation, retirement planning, California-specific tactics.
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Enterprise Value (EV)Seller's Discretionary Earnings (SDE)EBITDA MultipleQuality of Earnings (QoE)Add-BacksDue DiligenceLetter of Intent (LOI)Holdback (Escrow)Earn-OutAsset SaleStock Sale (Equity Sale)GoodwillPersonal GoodwillCommunity PropertySeparate PropertyPereira MethodVan Camp MethodTransmutationBuy-Sell AgreementShotgun Clause (Russian Roulette Clause)View all →