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Simple as the process may be, however, learning the seven legally required steps of how to start an LLC helps ensure that your new business starts without a hitch. 1. Choose your business name
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An LLC is a type of unincorporated association, distinct from a corporation. The primary characteristic an LLC shares with a corporation is limited liability, and the primary characteristic it shares with a partnership is the availability of pass-through income taxation. As a business entity, an LLC is often more flexible than a corporation and ...
Limited liability companies (LLC) and other specific types of business organization protect their owners or shareholders from business failure by doing business under a separate legal entity with certain legal protections. In contrast, a general partnership or persons working on their own are usually not as protected.
Similarly, dissolving an LLC entails a process. Step 1: Decide to close your business. Dissolving an LLC starts with making the decision to close. For a single-member LLC, this decision is ...
Small businesses use various sources available for start-up capital: Self-financing by the owner through cash savings, equity loan on his or her home, and or other assets; Loans or financial gifts from friends or relatives; Grants from private foundations, government, or other sources; Private stock issue; Forming partnerships; Angel investors
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