Related Organizations

Limited Liability Company

A limited liability company (LLC) is an unincorporated business organization established under state law that limits the liability of its members while allowing them to participate actively in the entity’s management. Although members generally are protected from liability to the same extent as shareholders of a corporation, the LLC has a certain advantage over a corporation; that is, it may be treated as a partnership for federal tax purposes. The LLC is not a taxable entity and its earnings flow through untaxed to the members.

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