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What is meant by LLC?

Updated: 12/12/2022
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10y ago

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LLC: Limited Liability Company

It is a type of company in which the owners bear only a limited liability.

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Q: What is meant by LLC?
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What does the LLC stand for in Indiana LLC?

The LLC in Indiana LLC stands for "Limited Liability Company". LLC companies blend corporate structure with partnership qualities.


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Yes, a LLC, that is, a LLC that is member of a LLC, could theoretically make a distribution to its parent LLC. Although, where member(s) of the LLC that is a member of the "parent" LLC are also member(s) of the parent LLC violate certain imputed fiduciary duties, the potential arises for unlawful self-dealing to occur.


Can an L.L.C. have vice presidents?

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What is the correct punctuation for LLC?

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What is the DTC number for Pershing LLC?

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No LLC's do not have shareholders like corporations. LLC's have members which are similar to shareholders in a corporation.


How does personal bankruptcy affect your LLC?

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No. See related question link that explains the liability of an LLC.


What does Series LLC mean in taxation?

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