Glossary of Terms

Limited Liability Company (LLC) 2015-09-16 08:00:00

Limited Liability Company (LLC)

A business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. In this structure, members of the company cannot be held personally liable for the LLC’s debts or liabilities, and the investor’s total loss exposure is limited to their investment in the LLC.

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