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Limited liability company - Wikipedia
A limited liability company (LLC) is the US-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. An LLC is not a corporation under state law; it is a legal form of a company that provides limited liability to its owners in many jurisdictions.
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Limited Liability Company (LLC) | Internal Revenue Service
A Limited Liability Company (LLC) is a business structure allowed by state statute. Each state may use different regulations, you should check with your state if you are interested in starting a Limited Liability Company. Owners of an LLC are called members.
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Limited Liability Company (LLC) Definition
Limited Entrepreneur: A limited entrepreneur is a person who is involved in a limited liability company but does not actively manage it. One benefit of being a limited entrepreneur is not having ...
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Limited Liability Corporation Versus a Sole Proprietorship ...
However, the most common forms are the Limited Liability Corporation (LLC) and the Sole Proprietorship. While the Sole Proprietorship is the simplest and most popular form of business start up, it may not provide entrepreneurs with the legal and tax advantages that an LLC does.
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Limited liability - Wikipedia
Limited liability is a legal status where 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 partnership. If a company that provides limited liability to its investors is sued, then the claimants are generally entitled to collect only against the assets of the company, not the assets of its shareholders or ...
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Corporation Income and Limited Liability Entity Tax ...
To pay an estimated payment or an extension payment for your Corporation Income Tax and/or Limited Liability Entity Tax (LLET): Tax Payment Solution (TPS) - Register for EFT payments and pay EFT Debits online. If filing a paper return with payment, make the check or money order payable to "Kentucky State Treasurer" and mail to
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What Is an LLC (Limited Liability Company)? | legalzoom.com
An LLC provides more flexibility than a corporation, and more robust liability protection than a sole proprietorship. by Boni Peluso updated June 16, 2021 · 4 min read. A limited liability company (LLC) is a legal status granted to businesses. This designation can relieve the business owners of personal responsibility for their company's debts ...
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Virginia SCC - Virginia Limited Liability Companies
Virginia Limited Liability Companies. Visit the Clerk's Information System (CIS) to file business forms online. All forms for Virginia Limited Liability Companies are eligible for online filing. The number of the form relates to the applicable statute in Title 13.1 of the Code of Virginia.
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Pros and Cons of a Limited Liability Company (LLC ...
Limited liability. As its title suggests, the LLC protects owners and shareholders from personal liability in case of judgments or debts against the business. Tax options. An LLC can choose whether it wants to be taxed as a sole proprietorship, partnership, S corporation, or corporation. Fewer compliance issues.
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Limited Liability Company: What Is It?
A limited liability company is a type of business structure that someone can choose when they're starting a business. This type of structure protects most of an owner's personal assets, and the business's income is passed through to owners' personal income.
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