Keyword Analysis & Research: llc definition business risk

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What does LLC mean in business?

The acronym LLC refers to a limited liability company. When a company registers with the secretary of state to start a business, there are several business entity options including an S-corporation, C-corporation and LLC. ... LLC business owners then obtain a free tax identification number, also called an Employer Identification Number, from the IRS by completing the Tax ID Application at the IRS website.

What does LLC Stand for?

LLC stands for "limited liability company." An LLC is one type of legal entity that can be formed to own and operate a business. LLCs are very popular because they provide the same limited liability as a corporation, but are easier and cheaper to form and run. For an introduction, see " LLC Basics ".

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