Reading... What is an LLC?
Back to top

What is an LLC?

Forming a limited liability company (LLC) has many advantages. An LLC is not a partnership or a corporation but rather an entity that displays features common to both business types.

It contains a deeper level of personal asset protection than the sole proprietorship and provides for simplified tax accounting. An LLC's owners are referred to as "members." The membership may consist of just one person, multiple people, or a combination of people and entities.