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Limited Liability Company, LLC
Limited Liability Company, LLCAn LLC is somewhat like a traditional corporation. The LLC does offer many of the benefits of a corporation, particularly the limitation of an owner's personal and individual liability. LLCs are good to have because they combine the limited liability of a corporation with the pass-through taxation attribute of a sole proprietorship or a partnership. The LLC must be registered with the jurisdiction's secretary of state. The downside of an LLC, compared to a corporation, is that the LLC does not offer free transferability of ownership, perpetual existence, or the ability to be totally owed by a single individual.
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