LLC – Limited Liability Company – Definition

339 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.




Posted in Definitions Tags: , , ,

«
»
You can skip to the end and leave a response. Pinging is currently not allowed.

Incoming search terms:

example company of limited liabilities company in the philippines, phil franchise limited liability company, philippines limited liability company, Philippines limited liability company meanin