Do you want to know the cost or the advantages or disadvantages of LLC? Cost depends on the state and the advantages or disadvantages depends on your goals you want to achieve by forming an LLC (Limited Liability Company). LLC is a pass through entity. Limited Liability Company is very flexible to manage multiple businesses. No payroll is required for the members. Less paper work involved. Corporation can be a member of an LLC. There are two types of LL C's single member or multi-member LL C's.