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t. e. 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 ...
Law portal. v. t. e. A limited liability partnership ( LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities. It therefore can exhibit aspects of both partnerships and corporations. In an LLP, each partner is not responsible or liable for another partner's misconduct or negligence.
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 ...
Corporate law. A low-profit limited liability company ( L3C) is a legal form of business entity in the United States. [1] Commonly referred to as a hybrid structure, it has characteristics of both for-profit and non-profit entities. [1] L3Cs were created to comply with the Internal Revenue Service (IRS) program-related investments (PRIs) rules ...
Company portal. Law portal. v. t. e. In United States business law, a registered agent (also known as a resident agent, [ 1] statutory agent, [ 2] or agent for service of process[ 3]) is a business or individual designated to receive service of process (SOP) when a business entity is a party in a legal action such as a lawsuit or summons. [ 4]
This guide breaks down how and when to form an LLC. Skip to main content. Sign in. Mail. 24/7 Help. For premium support please call: 800-290-4726 more ways to reach us ...
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