It is sometimes mistakenly referred to as a Limited Liability
Corporation. However, an LLC can file taxes as either a Discarded
Entity, a Corporation or a Partnership.
It is sometimes mistakenly referred to as a Limited Liability
Corporation. However, an LLC can file taxes as either a Discarded
Entity, a Corporation or a Partnership.
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A limited liability company, or LLC, is its own entity and can
possess assets, property, and liability. This allows you shield
your personal assets from the assets of the limited liability
company.
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A company can be a limited or unlimited. Limited liability
company is one which limits the liability of the
members(shareholders) by (1) limited by shares or (2) limited by
guarantee. Therefore Company limited by guarantee is a type of
limited company which means the liability of the members' is
limited by the guarantee given by them while becoming the member.
The members have agreed to be liable to the company at the time of
liquidation of the company upto an amount for which he is liable
and does not have any other liability. Limited by shares means the
member (shareholder) is liable for the value of the shares only.
Members of the company with unlimited liability has unlimited
liability for which they are liable even from their personal
property if required.
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A company can be a limited or unlimited. Limited liability
company is one which limits the liability of the
members(shareholders) by (1) limited by shares or (2) limited by
guarantee. Therefore Company limited by guarantee is a type of
limited company which means the liability of the members' is
limited by the guarantee given by them while becoming the member.
The members have agreed to be liable to the company at the time of
liquidation of the company upto an amount for which he is liable
and does not have any other liability. Limited by shares means the
member (shareholder) is liable for the value of the shares only.
Members of the company with unlimited liability has unlimited
liability for which they are liable even from their personal
property if required.