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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 is a legal status in which a person's financial liability is limited to a fixed sum, most commonly the value of a person's investment in a corporation, company, or joint venture.
A "limited liability company" (LLC) is a different entity. However, some states permit corporations to have the designation Ltd. [6] (instead of the usual Inc.) to signify their corporate status. A corporation must file annual corporate tax returns with the Internal Revenue Service.
LLC loans can be used for various short- and long-term costs, including funding startup costs, equipment and inventory purchases, working capital and business debt refinancing or consolidation
The Uniform Limited Liability Company Act (ULLCA), which includes a 2006 revision called the Revised Uniform Limited Liability Company Act, is a uniform act (similar to a model statute), proposed by the National Conference of Commissioners on Uniform State Laws ("NCCUSL") for the governance of limited liability companies (often called LLCs) by U.S. states.
"In layman terms, the husband is required to sit in the room while the chosen seed bearer, or a couple of them, rape his wife or wives." SEE ALSO: ...
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