The limited liability company: Form a limited liability company, llc, Management: Authors Articles Revenue Sharing

By Dave Mackay, 3 years and 8 months ago

Introduction to Limited Liability Company Information

You may have seen it in many different places. Perhaps it has become so common you may not even notice it anymore. Normally denoted by L.L.C. or LLC, it refers to a limited liability company. Business owners have to decide what structure to use in their company formation. A LLC business has been considered a mix of a corporation and a partnership. There are similarities between a corporation, partnership and this type of company, meaning that an individual's personal liability is non-existent, much like a corporation, yet it also allows losses and profits to be handled much like a partnership, where the LLC will not be taxed but the taxes will be passed on to the owners.

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