2006-09-16 02:00:09 · 5 answers · asked by Alfred C 1 in Business & Finance ➔ Small Business
LLC = Limited Liability Company - it's not a corporation by definition.
I have a company that is an LLC - and it is not a corporation - it was established specifically for the limited liability.
The text below was pasted from the website linked as the source if you want some more information:
The LLC is a type of hybrid business structure that is designed to provide the limited liability features of a corporation and the tax efficiencies and operational flexibility of a partnership. A popular choice for sole proprietors who are looking to incorporate simply to protect personal assets or secure additional loans, the LLC is thought to be one of the easiest and least expensive forms of ownership to organize.
2006-09-16 02:14:27 · answer #1 · answered by sundance 2 · 1⤊ 0⤋
Limited Liability Company
2006-09-16 05:50:18 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Limited Liability Company. It is a type of business organization designed to limit the personal liability of the owners of the business. Unlike a corporation, where the owners are officers, the owners of a LLC are called "members".
2006-09-16 02:10:07 · answer #3 · answered by Xeod 5 · 1⤊ 0⤋
Limited Liability Corporation
It protects the owners of small businesses against personal liability...It separates the assets of the business from personal assets.
2006-09-16 02:01:47 · answer #4 · answered by just browsin 6 · 2⤊ 1⤋
"justbrosin" is correct... It is a "Corporation" with a little less effect so to speak but still a corporation none the less. Protects those involved basically in a joint business venture. : )
2006-09-16 02:05:28 · answer #5 · answered by Kitty 6 · 0⤊ 0⤋