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v. t. e. 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] An LLC is not a corporation under the laws of every state; it is a legal form ...
Corporate law. A low-profit limited liability company ( L3C) is a legal form of business entity in the United States. [1] Commonly referred to as a hybrid structure, it has characteristics of both for-profit and non-profit entities. [1] L3Cs were created to comply with the Internal Revenue Service (IRS) program-related investments (PRIs) rules ...
A limited liability partnership ( LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities. It therefore can exhibit aspects of both partnerships and corporations. In an LLP, each partner is not responsible or liable for another partner's misconduct or negligence.
v. t. e. Incorporation is the formation of a new corporation. The corporation may be a business, a nonprofit organization, sports club, or a local government of a new city or town [citation needed] .
t. e. A Massachusetts Business Trust ( MBT) is a legal trust set up for the purposes of business, but not necessarily one that is operated in the Commonwealth of Massachusetts. They may also be referred to as an unincorporated business organization or UBO. Business trusts may be established under the laws of other U.S. states.
Massachusetts is the sixth-smallest state by land area. With over seven million residents as of 2020, [note 1] it is the most populous state in New England, the 16th-most-populous in the country, and the third-most densely populated, after New Jersey and Rhode Island. Massachusetts was a site of early English colonization.
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