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An LLC is a type of unincorporated association, distinct from a corporation. The primary characteristic an LLC shares with a corporation is limited liability, and the primary characteristic it shares with a partnership is the availability of pass-through income taxation. As a business entity, an LLC is often more flexible than a corporation and ...
A "limited liability company" (LLC) is a different entity. However, some states permit corporations to have the designation Ltd. [6] (instead of the usual Inc.) to signify their corporate status. A corporation must file annual corporate tax returns with the Internal Revenue Service.
koło łowieckie (a hunting club) – a juridical person incorporated by its members to manage game on a certain territory (hunting circuit) leased from the state, legally allowed to perform business activities related to its statutory tasks; according to the Act on Hunting Law, it acquires juridical personality through registration by the ...
LLC. Corporation. Ownership. Can be owned by one or multiple members. Owned by shareholders. Paperwork. Annual business filings can be handled by the business owner or manager
Frequently asked questions Common documents to include with a business loan request are your business plan, financial statements, tax returns, personal financial information and collateral details.
The articles of organization document typically includes the name of the LLC, the type of legal structure (e.g. limited liability company, professional limited liability company, series LLC), the registered agent, whether the LLC is managed by members or managers, the effective date, the duration (perpetual by default in most states), and the ...
series) is a product line of how-to and other reference books published by Dorling Kindersley (DK). The books in this series provide a basic understanding of a complex and popular topics. The term "idiot" is used as hyperbole, to reassure readers that the guides will be basic and comprehensible, even if the topics seem intimidating.
Limited liability is a legal status in which a person's financial liability is limited to a fixed sum, most commonly the value of a person's investment in a corporation, company, or joint venture.