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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] An LLC is not a corporation under the laws of every state; it is a legal form of a ...
A limited liability company (LLC) is a business entity that helps to protect the business owner from the liabilities incurred by the company they own. As a sole proprietor, you and your business ...
For guidance, approximate equivalents in the company law of English-speaking countries are given in most cases, for example: private company limited by shares or Ltd. (United Kingdom, Ireland, and the Commonwealth) public limited company (United Kingdom, Ireland, and the Commonwealth) limited partnership; general partnership; chartered company
A limited liability company (LLC) is a relatively new business structure authorized by state statutes. [52] The LLC is chiefly inspired by the GmbH ("Company with limited liability"), a type of business organization in Germany, and by the limitada, a type of business organization available in many Latin American countries. [16]
[1] [2] A shareholder in a corporation or limited liability company is not personally liable for any of the debts of the company, other than for the amount already invested in the company and for any unpaid amount on the shares in the company, if any—except under special and rare circumstances that permit "piercing the corporate veil."
Similar to a regular small business loan, the LLC loan can be secured or unsecured, and funds can be used for various business needs, such as startup expenses, equipment purchases and working capital.