What Is an LLC?
LLC stands for Limited Liability Company. An LLC acts as a separate legal entity. This means that the LLC can obtain a tax identification number, open a bank account and do business all under its own name.
Who do people choose an LLC? Because the LLC owners are not personally liable for the debts and liabilities of the LLC. If the LLC runs into bankruptcy , the members will not be required to make up the difference from their own money.
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