Which of the following is NOT a benefit of forming a Limited Liability Company?

Forming a Limited Liability Company (LLC) offers several benefits, including pass-through taxation, limited personal liability, and a flexible management structure. However, complex regulations do not represent a benefit of an LLC; rather, they can be a challenge.

Pass-through taxation means that the LLC's profits are not taxed at the corporate level; instead, they are reported on the owners' individual tax returns. This allows for potentially lower overall tax liability compared to traditional corporations.

Limited personal liability protects the personal assets of the owners from business debts and claims. This means that if the LLC faces lawsuits or bankruptcy, the owners are not personally liable for the business's debts, limiting their financial risk.

A flexible management structure allows for various management arrangements, such as member-managed or manager-managed, giving owners the freedom to choose how they want to run the business based on their needs and preferences.

In contrast, the presence of complex regulations can complicate the operations of an LLC rather than provide any benefits. Therefore, identifying complex regulations as NOT a benefit accurately reflects the nature of LLCs, focusing on the advantages they offer over more complex business structures.