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v. t. e. 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. [1] An LLC is not a corporation under the laws of every state; it is a legal form ...
- Limited Company
In a limited company, the liability of members or...
- Corporate Law
The proprietary limited company is a statutory business form...
- Limited Liability
Corporate law. Limited liability is a legal status in which...
- LLC (Disambiguation)
An LLC is a limited liability company, the US-specific form...
- Sole Proprietorship
A sole proprietorship, also known as a sole tradership,...
- Limited Company
A limited liability company is a business designation that relieves its owners of personal responsibility for their company's debts and liabilities while also allowing them to avoid the double taxation often associated with corporations. Instead, the responsibility falls on the LLC, meaning the firm is its legal entity.
- What Is an LLC (Limited Liability Company)?A limited liability company (LLC) is a legal status granted to businesses. This designation can relieve the business owners of personal responsibil...
- What Are the Benefits of an LLC?While personal asset protection is one of an LLC's most attractive features, there are other benefits associated with this business structure.Ease...
- How Does an LLC Compare to other Business Structures?The two most common alternatives to an LLC are a corporation and a sole proprietorship.A corporation is more formal, involving more bureaucracy, on...
- What Responsibilities Come With LLC Management?Generally, an LLC has fewer entity-related responsibilities than a corporation. However, most LLCs are legally obligated to create an operating agr...
- How Do LLC Taxes Work?If your business is a single-owner LLC, the IRS views it in the same way it views a sole proprietorship for tax purposes. That means the LLC itself...
2. Protection. Limited liability companies additionally benefit from the advantages of corporations. The largest benefit is the company’s limited liability status. The company exists as its own legal entity. This protects members and owners from being held personally liable for the operations and debts of the business.
1 day ago · An LLC with one owner is known as a single-member LLC and an LLC with more than one owner is a multi-member LLC. Forming your business as a limited liability company (LLC) helps: Protect you against lawsuits. Reduce paperwork compared to corporations and other legal entity types. Prevent your company from being taxed twice.
- 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...
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. An LLC is not a corporation under the laws of every state; it is a legal form of a company that provides limited liability to its owners in ...
Mar 11, 2024 · LLC benefits. Structuring a business as an LLC offers several benefits. Limited liability. Members’ personal assets — homes, cars, bank accounts, investments — are protected from creditors ...
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