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LLC - LP FAQs

What is a limited liability company?

A limited liability company, or LLC, is an innovative business structure that's easier to operate than a corporation, provides protection against its owners as far as personal liability for business debts and delinquencies, and allows owners to avoid the burden of double taxation that attaches to a regular corporation. A LLC combines the tax advantages of a sole proprietorship or partnership with the liability protection of a corporation.

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