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What is a limited company?
A limited company is a corporation, In legal terms the company or corporation is a separate person from its investors. If it goes bankrupt, its investors lose their investment but cannot be pursued for the corporation's unpaid debts. Their liability is limited to their investment--hence, "limited" company.
Is exxonMobil a limited liability corporation?
Not exactly, ExxonMobile is a Limited Liability Company (LLC). An LLC is a company not a corporation.
Can a Limited Liability Company later become an S Corporation?
How does a company become a corporation?
What kind of company is an LLC corporation?
An LLC corporation is a limited liability company. This means that the company gives the owners the ability to assume less liability if something were to happen.
What does llc stand for?
LLC = Limited Liability Company 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.
What are kinds of corporation?
There are 3 kinds: S corporation, C corporation and Limited Liability Company (LLC)
What is corporation in a sentence?
A corporation is a legal entity separate from its owners that is formed to conduct business activities, with ownership being held by shareholders who have limited liability for the company's debts and obligations.
What is a WLL company and what does that stand for?
A "WLL" company is a type of limited-liability corporation, where WLL stands for "With Limited Liability." The rules for a WLL vary by country. In the US, the LLC ("Limited Liability Corporation") business type is similar.
What does llc after a company's name mean?
Limited Liability Corporation
Can a profit corporation also be a limited liability company?
Yes
Is walmart a limited liability company?
No, Walmart is not a limited liability company (LLC). Walmart Inc. is a publicly traded corporation, which means it is a separate legal entity from its owners (shareholders) and provides limited liability protection to its shareholders. An LLC, on the other hand, is a business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.
What does LC stand for in company name?
Usually it is LLC which is Limited Liability Corporation/Company.
