2006-07-26 15:55:03 · 5 answers · asked by curious cat 2 in Business & Finance ➔ Other - Business & Finance
Limited Liability Company
It combines the limited liability benefits of a corporation with the tax benefits of a partnership (most LLCs choose to be taxed as a partnership rather than a corporation to avoid double taxation, but they do have both options). LLCs also require less ongoing paperwork than corporations.
2006-07-26 16:02:42 · answer #1 · answered by RK 2 · 1⤊ 0⤋
Limited Liability Corporation
2006-07-26 22:58:06 · answer #2 · answered by tkquestion 7 · 0⤊ 0⤋
Limited Liability Corporation. A baseball team is an LLC. In some states, a person, whomever they may be can become an LLC, and set their limits of liability to whatever they wish, to protect themselves from lawsuits.
I AM NOT A LAWYER. I AM NOT PRETENDING TO GIVE ANY LEGAL ADVICE. TAKE THIS INFORMATION FOR WHATEVER IT IS WORTH TO YOU, AND SEEK PROFESSIONAL LEGAL REPRESENTAION, BEFORE ACTING ON THIS, OR ANY ADVICE.
2006-07-26 23:04:08 · answer #3 · answered by thewordofgodisjesus 5 · 0⤊ 0⤋
It means "limited liability company". The term refers to the amount of liability that is assumed the the owner(s). It is typically a designation for smaller companies with fewer owners than large corporations.
2006-07-26 22:59:32 · answer #4 · answered by lazor_braids 2 · 0⤊ 0⤋
Limited liability company
2006-07-26 22:57:57 · answer #5 · answered by MstrChief55 5 · 0⤊ 0⤋