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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.
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]
In a November article, The New York Times reported that the tax bill would "[r]educe the pass-through tax rate to 25% regardless of income level. Since 95% of businesses are incorporated as pass-through entities [12] Examples include "sole proprietorships, partnerships and S corporations that currently pay taxes at the individual rate of their ...
Wildlife in the park includes deer, elk, black bears, cougar, coyotes, foxes, prairie dogs, red-tailed hawks, golden eagles and wild turkeys. The park opened in October 2006 and is the only state park located in El Paso County. There are 28 miles (45 km) [3] of trails throughout the park which are open to hikers and bikers. Dogs and horses are ...
selected state (statio fisci) or self-governmental legal entities other than legal persons: budgetary units: e.g. State Forests National Forest Holding, Agricultural Social Insurance Fund, statistical offices and the Central Statistical Office, units of various state uniformed services, state inspections and their laboratories – operating on ...
Vermont was the first state to pass an L3C statute in April 2008 which effectively allowed for the L3C legal form to operate in every state along with internationally. [4] L3C statutes currently exists in: Illinois, [ 24 ] Louisiana, Maine, Michigan, Missouri, North Dakota, Rhode Island, Utah, Vermont, Wyoming, Puerto Rico, and the federal ...
There are a number of legal benefits that come with incorporation. One significant legal benefit is the protection of personal assets against the claims of creditors and lawsuits. Sole proprietors and general partners in a partnership are personally and jointly responsible for all the legal liability (LL) of a business such as loans, accounts payable, and legal
Although specific rules vary from state to state, all states have passed variations of the Revised Uniform Partnership Act. The liability of the partners varies from state to state. Section 306(c) of the Revised Uniform Partnership Act (1997) (RUPA), a standard statute adopted by a majority of the states, grants LLPs a form of limited liability ...