Simply having an LLC is not enough. You have to follow various rules and formalities to receive the

Your LLC is not protecting you unless you do these 3 things. As I'm sure you know, an LLC separates you from your business so that if your business is ever sued, then in most situations your personal assets won't be at risk. But in order to get those protections, then you must do these 3 things. The last one is probably one that you didn't know about, so make sure to watch until the end. The first is to have a separate business bank account for your LLC. All business expenses should come out of that business bank account, and all money that the business makes should go into that business bank account. If you don't have one, then that's considered commingling, and the courts may be able to pierce the veil of protection. The second is to file the annual reports to make sure that your LLC stays active. Every state has different requirements. Some don't require annual reports at all, but in most states you have to file them once a year. And the third is to make sure that you conduct all business-related activity in the business's name. This means that your company letterhead, financial transactions, contracts that you enter into should all list that the LLC is the party to the contract.