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    liability in case of business debts and claims. This feature is known as "limited liability." This means
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    A limited liability company, commonly called an LLC is a business organization that is a hybrid between partnership or sole proprietorship and corporation. Like owners of partnerships or sole proprietorships, LLC owners account for business profits or losses on their personal income tax returns and the LLC itself is not a separate taxable entity. Like in a corporation, in LLC, all owners are protected from personal liability in case of business debts and claims. This feature is known as "limited liability." This means
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    partnership or sole proprietorship and corporation. Like owners of partnerships or sole proprietorships, LLC owners account for business profits or losses on their personal income tax returns and the LLC itself is not a separate taxable entity. Like in a corporation, in LLC, all owners are protected from personal liability in case of business debts and claims. This feature is known as "limited liability." This means
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    LLC owners account for business profits or losses on their personal income tax returns and the LLC itself is not a separate taxable entity. Like in a corporation, in LLC, all owners are protected from personal liability in case of business debts and claims. This feature is known as "limited liability." This means
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    is not a separate taxable entity. Like in a corporation, in LLC, all owners are protected from personal liability in case of business debts and claims. This feature is known as "limited liability." This means
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    liability in case of business debts and claims. This feature is known as "limited liability." This means that if the business owes money or faces a court case for any reason, only the assets of the business itself are at risk. Creditors usually cannot reach the personal assets of the LLC owners, such as a house or car. For these reasons, many say that LLC combines the best features of both the partnership and corporate business structures.

    Forming a Limited Liability Company may not be as simple as a sole proprie

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