[rayiner]

I think it makes sense to have two different structures. One with more formality, procedure, and capitalization requirements, and one with less but also a thinner shell of limited liability. It shouldn't be easy to set up an entity that insulates you from liability without following procedures to ensure that it is actually independent and capable of paying its own judgments, etc.

[bradleyjg]

In practice is veil piercing any more common against LLCs than ordinary corporations?

[rayiner]

I don't think so. I'm saying that given the dearth of formalities and capitalization requirements, it should be easier to pierce the veil with LLCs.