Definitions for "Limited Liability Company"
LLC. A type of company, authorized only in certain states, whose owners and...
A form of organization that may be treated as a partnership for federal tax purposes and that has limited liability protection for the owners at the state level. The entity may be subject to state franchise tax as a corporation.
A hybrid entity, the LLC gives its members limited liability and pass-through federal income taxation. Most states have held that LLC interests are SECURITIES for purposes of state registration. Using the HOWEY TEST, the crucial fact would appear to be whether the LLC members expect to derive profits SOLELY FROM THE EFFORTS OF OTHERS. In an LLC: managed solely by a manager, the Howey test would appear to be satisfied. In a member-managed LLC, the Howey test would not be satisfied and the LLC interests would not be securities under the 1933 ACT.
a stirring industry and learning more about it is very remunerative
a wonderful industry and learning more about it can be very fruitful
Keywords:  loophole, locked
locked in loophole
a growing field and discovering more about it can prove to be very edifying
a stimulating field and studying more about it can prove to be quite productive
an enterprise whose authorised capital is divided into shares
an organization no member of which is personally liable for the debts of the enterprise
Keywords:  creature, statute, well, contract
a creature of contract as well as a creature of statute
Keywords:  firmly, few, rules, establish, laws
an area of developing law and it will take a few years to firmly establish the rules and laws governing them
(USA) A non-incorporated association that resemble... Add a comment
a company founded by one or more persons, the charter capital of which is divided into ownership shares of amounts determined by the charter
a relatively recent addition to the traditional forms of companies
Keywords:  little, complex, register, need, you
a little more complex because you need to register it with the state