A limited liability company (LLC) is a business structure in the U.S. that protects its owners from personal responsibility for its debts or liabilities. Limited liabilitycompanies are hybrid entities that combine the characteristics of a corporation with those of a partnership or sole proprietorship. While the limited lia…See more on investopedia
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Definition and steps on how to form an LLC | Wolters Kluwer
wolterskluwerWhat is a limited liability company (LLC)?
upcounselWhen was the first limited liability company created?The first modern limited liability company was actually created in Germany in 1892. The concept spread throughout Europe and South America, but it was not until 1977 that the first LLC Act was passed in the United States.
The LLC (Limited Liability Company) Handbook | Wolters Kluwer
wolterskluwerWhat is a professional limited liability company (PLLC)?A professional limited liability company runs like other LLCs but focuses on certain professions. PLLCs form when states with regulatory board licenses on specific professional services or trades prevent these professionals from forming normal LLCs. In these cases, accountants, legal advisers, or medical workers often work under PLLCs instead.
What is an LLC? Limited liability company definition | LegalZoom
legalzoomWhat is the difference between an LLC and an S corporation?The primary difference is tax treatment. Unless you elect taxation as an S corporation, you become a " disregarded entity ." Your LLC's net income becomes self-employment income on your tax return. You will pay income taxes on it, including the self-employment tax. Who Manages an LLC? The members manage the LLC, and they are called member-managers.
What Is an LLC: FAQ and Answers
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Legal Templateshttps://legaltemplates/resources/business/benefits-of-an-llcWhat is an LLC? | Advantages and Disadvantages of …
WEBLimited Personal Liability. This is the key advantage for LLC owners (also known as members). An LLC is legally separate from its owners and responsible for its debts and obligations. This means that, although you can lose any investment you've made in your company, your personal assets are protected if the business gets into legal trouble.
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