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A limited liability company (LLC) is the United States-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.
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May 9, 2024 · What is an LLC? LLC stands for limited liability company. Forming an LLC is the simplest way of structuring your business to protect your personal assets in the event your business is sued. An LLC is the most popular business structure chosen by small business owners that offers: Personal liability protection of a corporation.
- What is an LLC?LLC stands for limited liability company. Forming an LLC is the simplest way of structuring your business to protect your personal assets in the ev...
- How much does it cost to form an LLC?The cost of forming an LLC will vary from state to state. In general, you can expect to pay a minimum of between $50 and $500 to form your LLC, and...
- What is a registered agent?A registered agent is a person or business nominated to receive and send legal documents on your LLCs behalf. In most states, you are required to n...
- What is an operating agreement?An LLC Operating Agreement is a legal document that outlines ownership and operating procedures of your Limited Liability Company. This agreement a...
- What are the articles of organization?The articles of organization is the legal document you submit to your state to form your LLC. This document contains important information related...
- How are LLCs taxed?LLCs have the advantage of pass-through taxation. This means the LLC’s profits pass through to its members, who pay taxes on their share of the ear...
- What are the benefits of an LLC?LLCs offer the liability protection of a corporation with the simplicity and pass-through taxation of a sole proprietorship. LLCs are affordable an...
- What is an LLC license?There is no such thing as an "LLC license" per se. To form your business as an LLC, simply follow the steps above in the How to Form an LLC section...
- How long does it take to form an LLC?The standard processing time for forming an LLC is two to three weeks from the time the state receives the formation documents. Many states offer s...
- Do I need a lawyer to form an LLC?You don’t need a lawyer to form an LLC. Our free LLC formation guides cover all the steps to set up an LLC in all 50 states. To save time, you can...
May 6, 2024 · At its most basic definition, an LLC is a type of business structure. Each state has its own set of laws and regulations for LLCs. It’s essential to work with a local attorney or accountant for your location-specific rules. Having said that, most LLCs have the following characteristics in common. [1]
A limited liability company (LLC) is a business structure for private companies in the United States, one that combines aspects of partnerships and corporations. Limited liability companies benefit from the flexibility and flow-through taxation of partnerships and sole proprietorships, while maintaining the limited liability status of corporations.
Jan 7, 2015 · A limited liability company is a U.S. form of privately owned company that combines the limited liability of a corporation with the simplified taxation of a sole proprietorship or partnership.
