Keyword Analysis & Research: llc definition meaning

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What is a LLC and how does it work?

Simply put, an LLC is a “limited liability company,” which has some features of both partnerships and traditional corporations. It provides greater liability protection than individual ownership and may have perpetual existence. However, an LLC is also somewhat simpler to manage than a traditional corporation.

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 ".

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.

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