CHAPTER 11: Limited Liability Companies.

The article focuses on chapter 11 of the book "Tax Savvy for Small Business." It discusses the taxation rules in the limited liability companies (LLC) which is a pass-through entity similar to S corporations and partnership. According to business expert Gene Fairbrother, LLC is more superior to partnership or sole proprietorship due to its limited liability feature. It also explores the tax issues involved in LLC which include tax reporting, allocation of its profits and losses, and state taxes.