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    • Can be formed to operate a business

      • A Limited Liability Company, or LLC, is one type of legal entity that can be formed to operate a business. LLCs provide a business owner with liability protection, the option to choose how they are taxed, and maximum control over business decisions and operations.
      www.contractscounsel.com › b › limited-liability-company

      Limited Liability Company: Everything You Need To Know

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  3. www.forbes.com › advisor › businessWhat Is An LLC? Definition, Pros & Cons – Forbes Advisor

    Dec 15, 2022 · A limited liability company, or LLC, is a U.S. legal entity used to own, operate and protect a business. LLCs provide the same legal and financial protections corporations...

  4. www.investopedia.com › terms › lWhat Is an LLC? Limited Liability Company Structure and ...

    Mar 21, 2024 · Key Takeaways. The limited liability company (LLC) is a corporate structure that protects its owners from being personally pursued for repayment of the company's...

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  5. www.irs.gov › limited-liability-company-llcLimited Liability Company (LLC) | Internal Revenue Service

    Nov 13, 2023 · A Limited Liability Company (LLC) is a business structure allowed by state statute. Each state may use different regulations, you should check with your state if you are interested in starting a Limited Liability Company. Owners of an LLC are called members.

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  7. www.nerdwallet.com › article › small-businessWhat Is a Limited Liability Company? Benefits of an LLC ...

    Mar 11, 2024 · A limited liability company (LLC) is a business structure combining the tax advantages of a partnership with the liability protections of a corporation. By Andrew L....

  8. www.forbes.com › advisor › business8 Types of LLCs Explained & Compared – Forbes Advisor

    • Domestic LLC. Domestic LLCs are limited liability companies that are incorporated and operate in only one state. Domestic LLCs are the most common type of limited liability company and are subject to the specific laws and regulations of the state in which they are formed.
    • Foreign LLC. A foreign LLC is a type of domestic LLC that’s formed in one state, the domestic state, and registered to do business in one or more other states, also known as the foreign state.
    • Professional LLC (PLLC) A professional LLC, also known as a PLLC, is a type of limited liability company used by licensed professionals, such as doctors, lawyers and accountants.
    • Nonprofit LLC. A nonprofit LLC is a type of corporation formed with the intent of conducting charity work or public benefit activities. A nonprofit LLC is similar to a standard LLC but includes additional benefits and requirements.

  9. www.legalzoom.com › articles › what-is-a-limitedWhat is an LLC? Limited liability company definition

    Mar 21, 2024 · LLC stands for "limited liability company," an LLC is a business structure that protects business owners from personal liability for the limited liability company LLC's business debts. LLCs as a business structure are very popular, but how do you know if it's your right choice?

  10. www.forbes.com › advisor › businessHow To Start An LLC In 7 Steps (2024 Guide) – Forbes Advisor

    Apr 6, 2024 · Setting up a limited liability company (LLC) properly is one of the most important steps in establishing your business. An LLC can offer your business liability protection as well as...

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