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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 ]
LegalZoom walks through the process of starting an LLC. In 2023 alone, American entrepreneurs started a record-breaking 5.5 million small businesses—the lion's share of which were LLCs.
Gesellschaft mit beschränkter Haftung (GmbH; German: [ˈgeːɛmbeːˌhaː]): company with limited liability ≈ private limited company (UK), limited liability company (LLC) (US); at least one shareholder; minimum equity €25,000.
The LLLP form of business entity is recognized under United States commercial law. An LLLP is a limited partnership , and it consists of one or more general partners who are liable for the obligations of the entity, as well as or more protected-liability limited partners. [ 1 ]
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Once you’ve found a low-cost state to establish the LLC, you’ll want to double-check your eligibility. You can find details on each state’s department of state website.
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