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Llc Company

An LLC Company is a legal company that allocates limited liability to its owners. The primary characteristic that an LLC company shares with a corporation is limited liability, and the particular characteristic it shares with a partnership is the convenience of pass-through income tax. An LLC company is usually the first choice for most single owner businesses because it is easier to control. Managers are elected by members and may be removed by other members. A member can also be a manager, thus is often called the managing member. If you would like to start up an LLC Company, please contact a small business lawyer near you.

Fast Facts

  • An LLC Company usually holds an operating agreement.
  • A common phrase found in many LLC Company statutes is "unless otherwise provided for in the operating agreement" and is one reason for the flexibility of the LLC company.

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