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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 ]
There are a number of legal benefits that come with incorporation. One significant legal benefit is the protection of personal assets against the claims of creditors and lawsuits. Sole proprietors and general partners in a partnership are personally and jointly responsible for all the legal liability (LL) of a business such as loans, accounts payable, and legal
Toggle Companies formerly based in Arkansas subsection. 2.1 A. 2.2 F. 2.3 L. 2.4 U. 2.5 Y. 3 References. ... Download QR code; Print/export Download as PDF; Printable ...
LLC business loan document requirements are similar to those of other types of business loans Limited liability companies (LLCs) are companies that operate under a specific kind of business ...
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For example, in Delaware LLLP elections take the form of a limited partnership electing to be a limited liability partnership (this is the format used in Delaware, while in Florida, Hawaii and Kentucky the election is made in the certificate of a limited partnership). Not all states presently allow business entities to form as LLLPs. [2]
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