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Limited Liability Company
A limited liability company (abbreviated by L.L.C. or LLC) in the law the vast majority of the United States is a legal form of business company offering limited liability to its owners. It is often incorrectly called a "limited liability corporation" (instead of company). It is a hybrid business entity having characterstics of both a corporation and a partnership. The primary corporate characteristic is limited liability while the primary partnership characteristic is pass-though income taxation. Under some circumstances, however, the members (the LLC version of shareholders or partners) may elect for the LLC to be taxed like a corporation (taxation of the entity's income prior to any dividends or distributions to the members and then taxation of the dividends or distributions once received as income by the members). Corporations, S-Corporations, Limited Liability Partnerships, Limited Partnerships, Limited Liability Limited Parnerships, and LLCs lie along a spectrum of flexibilty with LLCs being the most flexible, and thus preferrable, for many businesses.
The following were selected from among the transactions complete by Wild Adventures Company during December of the current year. Dec. 3. Purchased merchandise on account from Miramar Co., list price $45,000, trade discou
Dec. 3. Purchased merchandise on account from Miramar Co., list price $45,000, t...
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The following were selected from among the transactions complete by Wild Adventures Company during December of the current year. Dec. 3. Purchased merchandise on account from Miramar Co., list price $45,000, trade discou
Dec. 3. Purchased merchandise on account from Miramar Co., list price $45,000, t...
Can collection agency call me for my mother debt that she never had?
Get an Attorney - quickly. Do not talk to the collection people. Do not tell the...
Can I sue my employer for creating a hostile work environment and lying about my work performance to get me to quit?
How does the owner of the business feel about all of this? I suggest that you tr...
How can i sue for a straw purchase?
Anyone can co-sign. A straw purchase would be if you has someone buy the car for...
Can a creditor/collection agency call other employees at your place of work AND call your adult children who live in another state?
A creditor can call you at home, several times a day if you aren't answerin...















