what is a limited company?

Answer 1

Limited companies or LLC's limited liability companies are the same thing. an LLC is a company that give the owners personal asset protection, but has the benefits of a pass through entitiy in which all profits are passed to the owners then taxes (single taxation) at personal income tax rates. Other wise regular companies or C corporations pay corporate tax then the owners get taxed again (double taxation) when they get paid or recieve dividends.