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An LLC is a hybrid legal entity having certain characteristics of both a corporation and a partnership or sole proprietorship (depending on how many owners there are). An LLC is a type of unincorporated association, distinct from a corporation.
“I think there was never a bad time to be a small business owner in the United States, but particularly in these moments when we might feel extra pressure, sociological pressure, political ...
By contrast, sole proprietors and partners in general partnerships are each liable for all the debts of the business (unlimited liability). Although a shareholder's liability for the company's actions is limited, the shareholders may still be liable for their own acts.
A sole proprietorship, also known as a sole tradership, individual entrepreneurship or proprietorship, is a type of enterprise owned and run by only one person and in which there is no legal distinction between the owner and the business entity. [1]
Small businesses are types of corporations, partnerships, or sole proprietorships which have a small number of employees and/or less annual revenue than a regular-sized business or corporation. Businesses are defined as "small" in terms of being able to apply for government support and qualify for preferential tax policy.
Washington is a great state for women small-business owners, considering 42% of its small businesses are owned by women. Of those businesses, 34% make a revenue of $1 million or more.
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