proprietorship" and explains that this avoids the expense, paperwork, and additional taxes that could be due from forming a new entity. advise Lee, in writing, on the benefits of an LLC and include analysis of key issues of liability protection, income taxes, and use of an LLC operating agreement. Assignment Instructions Submit a concise memo of 250-500 words. Before submitting, please be sure to prepare and edit your work in a word processing program to correct errors and refine your submission. Grades for this assignment will be based on the quality of your submission and analysis on the key issues of use of an LLC structure, liability protection, income taxes, and use of an operating agreement. To get full marks, your submissions should: - respond in accordance with the assignment instructions and subject matter; - include your careful analysis and thinking; - include references and citations to supporting course materials or outside sources where utilized; - be organized, refined, and well-written; and - be edited to correct errors and ensure clear communication of your thinking