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LLC- Limited Liability Company

A somewhat common misnomer is to call an LLC a “Limited Liability Corporation”, but an LLC is technically not a corporation.

A Limited Liability Company protects owners from the majority of business liability.

It’s flexible in that owners can elect for it to be taxed in 4 ways:

1) sole proprietorship (if only 1 owner)
2) partnership
3) S- Corporation
4) C- Corporation