Greta is concerned about the level of debt her business has incurred, as she is responsible for its liabilities. Assuming Greta is the sole owner, how should she organize her business to protect herself from the liabilities of the entity?
Single member limited liability company or Corporation

The correct answer is: Single member limited liability company.

Explanation:

Limited Liability Companies (LLC) are those where the personal assets of the owners are not considered in front of the debt of the organization. It means if the firm is found liable in a given case, the property of the owners will not be considered as part of the restitution of that fault.

Thus, as Greta is the only owner of her business and she does not want her personal assets to be affected by the operations of the business, she should register it as a single-member LLC.

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