What is an LLC

A limited liability company (LLC) is a specific form of a private limited company. An LLC is a type of business structure that treats owners like partners but gives them the choice to be taxed like a corporation. This form of business allows for flexibility in ownership and management. Once the owners have decided how they would like to be taxed, managed, and organized, they will spell it all out in an operating agreement. LLC is mainly used in the US.

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