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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 ...
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) by U.S. states.
Form an LLC in only seven steps: Select a unique name, appoint your registered agent, determine your LLC's structure, create an operating agreement, file articles of organization, get an EIN and ...
In addition to meeting IRS Treasury Regs.Sec.53.4944-3(a), many states require the label "L3C" or "low-profit limited liability company" to appear in the name of the organization. Each state may have state-specific requirements that govern L3C formation. [citation needed]
Formally dissolving an LLC puts an end to these requirements. ... Indiana $30. Iowa $5. Kansas $35. Kentucky $49. Louisiana $100. Maine $75. Maryland $0. Massachusetts $100. Michigan $10 ...
While starting your own business can be expensive and a hit to your personal finances (if not successful), the number of businesses in the U.S. has grown in recent years. In 2023, 5.5 million...
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