- Sure, an LLC, or Limited Liability Company, is a business structure that combines elements of both corporations and partnerships (or sole proprietorships). The owners of an LLC are referred to as members, and they enjoy limited liability protection, meaning their personal assets are typically protected from business debts and liabilities.
- LLCs are popular among small businesses and startups because they offer flexibility in management and taxation. They can choose to be taxed as either a sole proprietorship/partnership (pass-through taxation) or as a corporation (if they elect to be taxed as an S-corp or C-corp).
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