Like a corporation the LLC, offers its owners the advantage of limited personal liability, but it also offers a choice of how the business will be taxed. The LLC can be taxed as a separate entity, similar to a corporation, or like a partnership where profits are passed through to partners and taxed on their personal income tax returns. The LLC is a fairly new and flexible business ownership structure and is popular with small businesses.

A company that invests in a business but has no management responsibility and no liability for the business beyond the money the have invested.

Hybrid business entity having features of both partnerships and corporations. If formed properly it will be taxed as a partnership and its members will enjoy limited liability like corporate shareholders.

Corporation in which stockholders have limited liability but pay personal income taxes on business profits.

Business structure that is popular with small businesses due to its offer of limited personal liability to its owners. The LLC can be taxed as a separate entity or as a partnership-like entity in which profits are passed through to partners and taxed on their personal income tax returns.

Legal entity that is a special kind of corporation. A limited liability company offers shareholders the limitations on personal liability that are available to stockholders in C or S corporations. At the same time, limited liability companies are taxed very much like partnerships; that is, the income is allocated to the stockholders for tax purposes. Generally, limited liability companies offer owners the same advantages of the more familiar S corporations but have fewer restrictions.

A form of ownership in which a separate legal entity is created, which is governed by a particular state's laws. An LLC has continuity of life and is not dependent on any one member for maintaining its legal existence. Its members and managers maintain limited liability and avoid Double Taxation.

A legal entity that is a hybrid between a corporation and a partnership. The members (shareholders) enjoy limited liability as they would with a corporation, but the income of the LLC can be taxed to the members as if it were a partnership, corporation, or sole proprietorship.

A legal entity or business organization which can ... more

A business association (a cross between a U.S. corporation and a U.S. partnership) whose statutory fund is divided into shares; the amount of each share is determined by the constituent documents thereof.

(LLC) A type of business entity combining the characteristics of limited liability with “pass through” taxation of profits, thus preventing double taxation. Owners are called members. An LLC may be managed by its members or by one or more managers. To learn more about the characteristics of an LLC, click here. To learn more about the structure of an LLC, click here. To learn more about the advantages and disadvantages of LLC's, click here.

a form of business entity now permitted by all states that is generally intended to provide the liability protection afforded to shareholders in a corporation, combined with the advantages of partnership taxation

an ownership structure designed to limit the founders' losses to the amount of their investment. An LLC does not pay taxes, rather its owners pay taxes on their proportion of the LLC profits at their individual tax rates.

A form of business organization that offers the beneficial tax status of a partnership while providing its members limited liability.

An unincorporated business form that provides limited liability for its owners and may be taxed as a partnership. To create an LLC, a certificate must be filed with a state official. Unlike C corporations, the earnings of LLCs are not subject to double taxation.

LLCs combine the limited liability protection of a corporation and the pass-through taxation of a sole proprietorship or partnership. The downside to an LLC is that it does not offer the free transferability of ownership, perpetual existence, and the ability to be totally owned by a single individual.

A non-incorporated association that resembles a corporation in some ways and a partner ship in others.

A legal form that allows a business to be taxed like a partnership but function generally like a corporation. An LLC offers members protection against liability for claims against the business; this legal benefit is not available in a partnership.

A corporate structure which may have the limited liability characteristics of a corporation and the tax pass-through characteristics of a partnership.

cheaper and less complex to set up than a corporation but with some of the tax and liability advantages

The liability of the shareholders is limited to the nominal value of the issued share capital.

a business association with fixed capital divided into negotiable shares

a business entity that generally has liability protection similar to that of a corporation

a business entity that is an unincorporated association of one or more members and that limits the personal liability of all of its owners

a business organization that provides its owners corporate-type limited liability protection, but without the drawbacks of corporate taxation

a business owned by two or more persons

a business structure that is taxed like a partnership, but gives its owners the same limited liability as a corporation

a commercial enterprise where legal and other obligations are restricted to the artificial legal personality of the subject entity

a company in which like the name states, liability is limited

a corporation that issues share capital to a limited number of shareholders

a corporation that passes through income and loss to the shareholders but offers shareholders the same limited liability as a limited partner or corporate shareholder

a cross between a partnership and a corporation, with mostly partnership characteristics

a fairly new type of business entity which combines the liability characteristics of a corporation with the tax characteristics of a partnership

a form of business entity which combines the "limited liability" feature of the corporation with the tax advantages of the partnership

a general partnership and a corporation merged together

a good choice for the small new business

a hybrid business entity that combines aspects of both a partnership and a corporation

a hybrid entity which has the limited liability of a corporation but the pass-through tax advantages of a partnership

a hybrid form of A LIMITED LIABILITY PARTNERSHIP

a hybrid form of business entity combining

a hybrid form of entity combining some of the attributes of a corporation with the association tax status of a partnership

a intriguing business and studying more about it can be extremely fulfilling

a intriguing industry and studying more about it is extremely advantageous

a kind of business organization

a legal entity created by making application to the State of North Carolina

a legal entity distinct from its members, consisting of one or more members

a legal entity (legal person)

a legal entity separate from its owners and managers

a legal entity separate from its shareholders and directors and thus any loss incurred by the company is restricted to the share capital of the company, not the personal assets of the owners

a legal entity that may be established by one or more individuals

an alternative structure to a limited partnership (the structure most commonly used by private equity funds)

an corporate entity created under and governed by the laws of the state in which it was formed

an enterprise founded on collective or mixed property and has the status of a legal entity with obligatory participation by the owners with property

an entity created by statute which allows for protection against personal liability for the principals and, in many but not all cases, beneficial tax treatment

an entity distinct from its members

an entity formed under state law by filing articles of organization

an entity, regarded as an undivided whole

an entity that has the same limited liability characteristics as a corporation, but the ease of management characteristics of a partnership

a newer type of entity, as compared to corporations, that has gained wide acceptance and is the preferred choice of entity in certain industries and/or transactions

an example of a business type otherwise known as the LLC

an unincorporated business association that provides its owners

an unincorporated business entity which shares some of the aspects of Subchapter S Corporations and limited partnerships, and yet has more flexibility than more traditional business entities

an unincorporated legal entity owned by one or more members

a relatively new and flexible business ownership structure

a relatively new business entity that in many respects is similar to a corporation

a relatively new form of business entity that is now permitted in all states

a relatively new form of business entity which if properly structured would be taxed in the same manner as a partnership, i

a relatively new legal form that, in time, will likely supplant the partnership as the most common vehicle for conducting joint ventures

a relative newcomer to Texas business law

a separate entity, which may sue and be sued in its own name

a separate legal entity like a corporation, but an LLC is not subject to double taxation

a separate legal entity, with its own "status", recognised by Inland Revenue, banks and the outside world

a statutory entity authorized under state law

a statutory mixture of partnership and corporate law

a stirring business and studying more about it can be very profitable

a type of legal entity which has only relatively recently been made possible to establish in the United States and many other, mainly anglophone, countries

a unique business entity which combines the limited liability protection of a corporation with the simplicity and pass-through tax benefits of a partnership, sole proprietorship and an S Corporation

a way for small businesses to limit the liability of its owners

A business entity that offers limited liability to its members without being a corporation

An entity formed under state statute that has the legal characteristic of limited liability similar to that of a corporation, while it may qualify to be treated as a partnership for tax purposes.

LLCs provide limited liability to their members, however are taxed like a partnership, preventing double taxation. LLCs can be formed in every state. An LLC is formed upon filing articles of organization (similar to the process of filing articles of incorporation to form a corporation) with the proper state authorities (usually the secretary of state) and paying all fees. LLCs are a relatively new entity in the United States, gaining more widespread acceptance during the early 1990's, although the concept has long been used internationally.

A type of corporation that is owned by a limited number of shareholders in a small business. Although laws differ among the states, characteristics usually include: a board of directors is not required, transfer of shares is restricted and shares are usually evidenced only by notation on the register instead of certificates. Limited Liability Companies register with the Office of Secretary of State's Corporations Division.

a form of business organization existing as a separate legal entity. A LLC follows the terms of conditions set forth in an operating agreement and owners of LLC are referred to as members. LLC provide the limited personal liability of corporations and the pass-through taxation of partnerships or S corporations.

A form of business entity that includes the beneficial tax attributes of both S Corporations and partnerships, but offers the limited liability of corporations. LLC members (owners) may participate in management without risking personal liability. There is no limit on the number of owners or on the type of owners, as with S Corporations. It is a statutory entity and must be formed under a specific state law.

A legal entity that is not taxable itself and distributes the profits to its owners, but shields personal assets from business debt like a corporation.

A entity created under state law that is taxed like a partnership (i.e., income and losses are passed through to the partners), but where the liability of the owners is limited to their investment in the company. That is, they can't be held personally liable for the debts of the company.

Limited Liability Partnership (LLP)

A form of ownership, owned by its members, which is a separate legal entity that has continuity of life and is not dependent on any one member for maintaining its legal existence. An LLC is governed by a particular state's laws, however, in general it has the advantage that its members maintain limited liability while avoiding Double Taxation.

A legal entity form that provides limited liability for its owners and may be taxed as a partnership. To create a limited liability company (LLC), Articles of Organization and the required fee must be filed with the state corporation authority (usually the Secretary of state). Unlike C corporations, the earnings of LLCs are not subject to “double taxation”.

A Limited Liability Company is a hybrid between a partnership and a Corporation. The advantage of a Limited Liability Company is that most states require fewer formalities be observed in an LLC in comparison to a corporation.

A type of corporate filing providing similar benefits to and Incorporation. Limited liability companies are generally able to provide the limited personal liability of corporations and the pass-through taxation of partnerships or S corporations

A business entity formed upon filing articles of organization with the proper state authorities and paying all fees. LLCs are a new entity in the United States, although the concept has long been used internationally. LLCs provide limited liability to their members, and are taxed like a partnership, preventing double taxation. LLCs can be formed in every state.

A hybrid entity that under state law is neither a partnership nor a corporation. It offers its owners (members) protection from personal liability for the debts of the business. It may have no more than 2 of the corporate characteristics and, by default, limited liability is usually one of them. An LLC pays no income tax because it passes its income through to the members. The business affairs are overseen by managers.

the restriction of one's potential losses to the amount invested. The absence of personal liability. Provided to stockholders in a corporation and limited partners of a limited partnership.

A business structure that is a hybrid of a partnership and a corporation. Its owners are shielded from personal liability and all profits and losses pass directly to the owners without taxation of the entity itself.

A business ownership structure that offers its owners the advantage of limited liability (like corporations) and partnership-like taxation, in which profits are passed through to the owners and taxed on their personal income tax returns.

A distinct type of business that offers an alternative to partnerships and corporations, by combining the corporate advantages of limited liability with the partnership advantage of pass-through taxation (earnings are taxed only once).

An entity that provides owners with limited liability and pass-through taxation benefits. Governed by a private, flexible contract called an Operating Agreement. Owned by Members with membership certificates.

A form of business structure designed to combine the best of corporate and partnership attributes into one entity.

LLCs are a relatively recent form of business organization. An LLC combines the most attractive features of limited partnerships and corporations. The members of an LLC enjoy the limited liability offered by a corporate form of ownership and the tax advantages of a partnership. In addition, the LLC offers flexible management structures without the complicated requirements of S corporations or the restrictions of limited partnerships. The structure and methods of establishing a new LLC, or of converting an existing entity to the LLC form, vary from state to state. ( See corporation , partnership )

A limited liability company, commonly referred to as an LLC, is a legal entity that is formed at the state level to separate a business owner from his or her business. Limited liability companies are generally intended to provide the limited liability of corporations and the pass-through taxation of partnerships.

A statutorily authorized, unincorporated entity that provides corporate-like limited liability for its owners but is managed, in many respects, like a partnership.

Members of Limited Liability companies enjoy the limited liability offered by corporations and the minimum requirements of an S corporation. Limited Liability Companies typically contain two or more members and must file articles of organization with the secretary of state, although single member LLCs are allowed in certain states.

A business structured so its owners are not personally liable for debts or other business liabilities, such as damages from lawsuits. LLCs are taxed similarly to partnerships, thus avoiding double taxation.

An artificial entity created under and governed by the laws of the jurisdiction in which it was formed. Limited Liability companies are generally able to provide the limited personal liability of corporations and the pass-through taxation of partnerships or S-corporations.

A type of business organization formed under the Maryland Limited Liability Company Act.

An entity recognized as a legal "person" that is set up to conduct a business owned and run by members

A limited liability company is one in which the liability of shareholders for the companyâ€(tm)s debts is limited to the amount paid and, if any, unpaid on the shares taken up by them. The important point about a limited liability company is that the shareholders are protected against claims against the company, which is treated by law as a separate legal personality.

A business organization different from a sole proprietorship, partnership, and corporation. As the name implies it provides the limited liability protection usually associated with a corporation. To learn more about this business structure, you should discuss this with a tax and legal professional. To Top

A hybrid entity that combines features of a corporation and. a partnership. The liability of LLC members is limited to the amount of their investment, as with a corporation. Income, however, passes through to members for income tax purposes, as with a partnership. State law usually permits an LLC to customize the distribution of cash and property and the allocation of profits and losses among its members. Also, an LLC member can materially participate in the LLC's business activities, so that income and losses passed through are considered active rather than passive. Also see “Corporation,” “Limited partnership,” “Loss,” “Partnership,” “Profit,” “Sole proprietorship,” and ‘Subchapter S corporation.'

The LLC is not a corporation, but it offers many of the same advantages. Many small business owners and entrepreneurs prefer LLC’s because they combine the limited liability protection of a corporation with the "pass through"" taxation of a sole proprietorship or partnership. LLC’s have additional advantages over corporations: LLC’s allow greater flexibility in management and business organization. LLC’s do not have the ownership restrictions of S Corporations, making them ideal business structures for foreign investors. LLC’s accomplish these aims without the IRS' restrictions of an S Corporation. LLC’s are now available in all 50 states and Washington, DC

A legal structure that allows a business to be taxed like a partnership but function generally like a corporation. An LLC offers members (among other things) protection against liability for claims against the business that is not available in a partnership.

A relatively new type of company, whose owners and managers receive the limited liability comparable to a corporation, but retain tax treatment similar to a partnership and flexibility to distribute profits based on factors other than strict share ownership.

A relatively new form of business that provides a liability shield to an unincorporated entity. LLCs are less formal and may elect various tax treatments by filing a Form 8832. Most LLCs are not required to file a separate business tax return. LLCs have pass through tax treatment so the earnings are not subject to double taxation. Their flexibility has made LLCs an instant favorite for real estate development, trucking and airplane business, and many sole proprietor service businesses.

An organization, distinct from a corporation, formed under state law for the purpose of carrying on a business enterprise is such a manner as to make the enterprise distinct from its owners.

Consists of member owners and a manager, at a minimum. Similar to a corporation that is taxed as a partnership or as an S-corporation. More specifically, it combines the more favorable characteristics of a corporation and a partnership. The LLC structure permits the complete pass-through of tax advantages and operational flexibility found in a partnership, operating in a corporate-style structure, with limited liability as provided by the state's laws.

A company the liability of whose members for its debts is limited to the value of each member's shares. See also Company limited by guarantee.

(denoted by L.L.C. or LLC in the US) Is a legal form of business company offering limited liability to its owners. It is similar to a corporation, and is often a more flexible form of ownership, especially suitable for smaller companies with restricted numbers of owners.

A company in which the personal assets of the company's shareholders are generally not exposed to the claims of the company's creditors. The liability of the company owners is “risk mitigated” and limited to only the full extent of their respective investment in the business.

A limited liability company is a business structure best described as a hybrid between a partnership and a corporation – a "pass through" of all profits and losses to the owners without taxation of the entity itself, as in a partnership, and a shield from personal liability, as in a corporation.

A legal entity that permits close shareholder operation of a company and limits the individual liability in the event of litigation.

A new and flexible business organization that offers the advantages of liability protection with the simplicity of a partnership.

An alternative to other business forms that combines the most favorable characteristics of a partnership and a corporation.

A relatively new form of corporate structure which combines some of the advantages of the "S" Corporation in terms of pass-through of income and losses avoiding double taxation, with some advantages of a "C" Corporation which allows greater latitude in who can be an owner.

according to wikipedia.org is a legal form of business company in the United States offering limited liability to its owners.

An unincorporated company formed under applicable state statute whose members cannot be held liable for the acts, debts, or obligations of the company and that may elect to be taxed as a partnership.

A hybrid between a corporation and a partnership. It provides easy "pass-through" taxation (profits and losses are added to the owner(s) personal tax returns) like a sole proprietorship/partnership, with the liability protection of a corporation. Like a corporation, it is a separate legal entity; unlike a corporation, there is no stock and the duration is usually not perpetual, though it can be. The owners of an LLC are called "members", not "shareholders". So in essence, it's a like a corporation, with less complicated taxation and stock formalities.

is a business that has shareholders who are limited in liability to the contribution of the fully paid up share

Form of doing business combining limited liability for all owners (called members) with taxation as a PARTNERSHIP. An LLC is formed by filing ARTICLES OF ORGANIZATION with an appropriate state official. Rules governing LLCs vary significantly from state to state.

An form of organization that combinines the corporate advantages of limited liability with the partnership advantage of pass-through taxation.

In the United States: A business organization that, as does a corporation, enjoys limited liability yet is not a taxable entity.

A company formed to carry on a trade or business where the shareholders ("owners") responsibility for the debts of the company is limited to the nominal value of the shares they hold in the company.

A limited liability company (denoted by L.L.C. or LLC) is a legal form of business company in the United States offering limited liability to its owners. In that respect, it is similar to a corporation, and is often a more flexible form of ownership, especially suitable for smaller companies with a limited number of owners. Unlike a regular corporation, however, a limited liability company with one member may be treated as a disregarded entity, so the member is often singled-out as a person performing the actions of the LLC.

Equity capital – when establishing a limited liability company, the minimum equity capital is LVL 2000 (about EUR 2820). The equity capital contribution can take the form of both cash and property contribution. Founder – one or more persons can be the founder(-s) of a limited liability company, and they can be both natural persons and legal entities. The founder may be a resident or non-resident of the Republic of Latvia. Status – a limited liability company is considered a legal entity. Liability – the company is liable for its obligations to the extent of its entire property. A founder or shareholder is not liable for the limited liability company's obligations, as well as the limited liability company is not liable for the founder's or shareholder's obligations. Management body – the decision-making body of a limited liability company is the board and, if needed, the council. The board consists of one or more natural persons who may be residents or non-residents of the Republic of Latvia.