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Limited Liability Companies (LLC)
A Limited Liability Company, or simply LLC, is a type of hybrid business structure designed to provide the limited liability features of a corporation, and the operational flexibility and tax efficiencies of a partnership. Generally, the LLC is one of the easiest and least expensive forms of business ownership to organize. The LLC is a popular option for sole proprietors looking to incorporate simply to protect personal assets or secure additional loans, and because it combines the advantages of a corporation with the management flexibility and tax advantages of a partnership.
Advantages
- Owners have limited personal liability
- For tax purposes, the allocation of an LLC's profit or loss does not need to be proportional to ownership interests
- No double taxation thread associated with C Corporations
- US Citizenship is not required to own or invest in a C Corporation
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