Limited liability company

Limited liability company

Topic
more_vert
Limited liability company

A limited liability company (LLC) is the US-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 state law; it is a legal form of a company that provides limited liability to its owners in many jurisdictions. LLCs are well known for the flexibility that they provide to business owners; depending on the situation, an LLC may elect to use corporate tax rules instead of being treated as a partnership, and, under certain circumstances, LLCs may be organized as not-for-profit. In certain U.S. states (for example, Texas), businesses that provide professional services requiring a state professional license, such as legal or medical services, may not be allowed to form an LLC but may be required to form a similar entity called a professional limited liability company (PLLC).

Contributors

No records found.

This page is the FamousFix profile for Limited liability company. Content on this page is contributed by editors who belong to our editorial community. We welcome your contributions... so please create an account if you would like to collaborate with other editor's in helping to shape this website.

On the Limited liability company page you will be able to add and update factual information, post media and connect this topic to other topics on the website. This website does skew towards famous actors, musicians, models and sports stars, however we would like to expand that to include many other interesting topics.

Terms of Use · Copyright · Privacy
Copyright 2006-2021, FamousFix · 0.06s