The LLC is a business form that stands for a Limited Liability Company. The beauty of this business formation is that it offers the personal liability protection of a corporation and the pass-through taxation of a sole proprietorship or partnership.
If an LLC is formed by one owner it is known as a single-member LLC and an LLC with more than one owner is a multi-member LLC.
Here are some of the benefits of an LLC:
1. Limited Liability Protection
2. Pass-through Taxation
3. Simplicity
4. Flexibility
5. Tax Options
6. Increased Credibility
7. Access to business loans and credit
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