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LLC stands for "limited liability company," which is a business structure that combines the pass-through taxation of a sole protectorship with the limited liability of a corporation.
In trucking, an owner-operator is a self-employed commercial truck driver or a small business that operates trucks for transporting goods over highways for its customers. [1] Most owner-operators become drivers for trucking companies first to gain experience and determine whether the career is for them.
The two most popular ways of organizing a small business are LLCs and sole proprietorships. They are less costly and complicated compared to the alternatives of corporations and partnerships.
A Nissan Diesel trucker in Hong Kong. There are three major types of truck driver employment: Owner-operators (also known as O/Os, or "doublestuffs" [4]) are individuals who own the trucks they drive and can either lease their trucks by contract with a trucking company to haul freight for that company using their own trucks or haul loads for multiple companies and are self-employed independent ...
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] A sole trader does not necessarily work alone and may employ other people. [2]
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 ...
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