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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 ]
A private limited company is a limited company incorporated under the Companies Act 2013 (or one of its predecessor acts), with a minimum paid-up share capital (if any) of ₹ 1 lakh (US$1,200), with an article that restricts the transfer of its shares; it may have between two and two hundred members, and its name ends with "Private Limited ...
Under UK company law and most international law, a company or corporation is considered an entity that is separate from the people who own or operate the company. [ 1 ] Forming a company via the paper filing method can take up to 4 weeks but nowadays the majority of UK companies are formed the same day electronically.
The process of starting up a new corporation is quick, though each state differs. [18] A corporation is not the only kind of business organization that can be chosen. People may wish to register a partnership or a Limited Liability Company, depending on the precise tax status and organizational form that is sought. [19]
Company limited by guarantee having a share capital – As with a private company if the maximum number of members is 99. Members have liability either for the amount, if any, that is unpaid on the shares they hold, or for the amount they have undertaken to contribute to company assets, in the event that it is wound up. A public limited company.
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