LLC – Limited Liability Company – Definition

205 views. Posted by Franchisee on March 8th, 2009

A limited liability company.  It is created by an agreement of the owner/members.  The members are liable only to the extent of their capital contributions.  It provides many of the protections of a corporation.  The LLC is not taxed at the business level, but “flows through” and the members are personally taxed.




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