Ads
related to: limited liability companyuslegalforms.com has been visited by 100K+ users in the past month
Search results
Results from the WOW.Com Content Network
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 of ...
e. 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. If a company that provides limited liability to its investors is sued, then the claimants are generally entitled to collect only against the assets ...
There are many types of business entities defined in the legal systems of various countries. These include corporations, cooperatives, partnerships, sole traders, limited liability companies and other specifically permitted and labelled types of entities. The specific rules vary by country and by state or province.
A "limited liability company" (LLC) is a different entity. However, some states permit corporations to have the designation Ltd.[8] (instead of the usual Inc.) to signify their corporate status. A corporation must file annual corporate tax returns with the Internal Revenue Service.
Limited Liability Partnerships, as well as all forms of limited liability companies, offer alternatives to traditional company and corporate structures. Limited liability can enable opportunities for new business growth that were formerly accessible only to those who had access to large amounts of capital or other resources. [citation needed]
t. e. 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 which ...
Ads
related to: limited liability companyuslegalforms.com has been visited by 100K+ users in the past month