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In certain U.S. states (for example, Texas), businesses that provide professional services requiring a state professional license, such as legal or medical services, may not be allowed to form an LLC but may be required to form a similar entity called a professional limited liability company (PLLC). [4]
Location of Texas. Texas is a state in the South Central region of the United States. The region's second-quarter 2018 gross state product was 8.6% of the GDP of the country at $1.755 trillion, with significant growth in mining, quarrying, and oil and gas extraction. [1]
A business entity is an entity that is formed and administered as per corporate law [Note 1] in order to engage in business activities, charitable work, or other activities allowable. Most often, business entities are formed to sell a product or a service. There are many types of business entities defined
Small and medium enterprises in South Korea; Social cooperative; Social enterprise; Social purpose corporation; Sociedad Anónima Deportiva; Sociedade Anónima Desportiva; Sociedade Anônima do Futebol; Società a responsabilità limitata; Società per azioni; Societas cooperativa Europaea; Societas Europaea; Societas privata Europaea
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
Some types of business registers combine the features of both groups, these include: tax register — a register used for the purpose of revenue collection, including taxes, duties such as tariffs or excise , as well as mandatory social insurance and health insurance contributions; such a register includes all taxable entities, as well as their ...
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A company limited by shares: The most common form of the company used for business ventures. Specifically, a limited company is a "company in which the liability of each shareholder is limited to the amount individually invested" with corporations being "the most common example of a limited company". [ 10 ]