LLC

LLC or limited liability company, sometimes referred to as LLC corporation or limited liability corporation, is one of the newer business legal structures. The limited liability company (LLC) has become popular with many businesses especially small business owners, in part because the limited liability company (LLC) legal structure was custom designed by state legislatures to overcome particular limitations of each of the other business forms, including, in some contexts, the corporation.

About LLC corporation

Click on the following links to learn more about:

• Advantages of limited liability corporation
• LLC taxes
• LLC corporation Vs. LLC
• LLC requirements
• LLC formation requirements

Explanation of LLC

Essentially, the LLC (limited liability company, limited liability corporation, or LLC corporation) is a business ownership structure that allows the corporation owners to:

• pay business taxes on their individual income tax returns like partners (or, for a one person LLC, like a sole proprietorship), but that also
• gives the owners the legal protection of personal limited liability for business debts and judgments as if they had formed a corporation.

In another word, the LLC or limited liability company legal structure allow you to simultaneously achieve the twin goals of:

• pass through taxation of business profits and
• limited personal liability for business debts.