LET’S LEARN ABOUT DIFFERENT COMPANIES
LLC (Limited Liability Company)
In today's modern world, the Limited Liability Company is a prominent company form. A Limited Liability Company (LLC) is useful as an organizational structure for small businesses. This sort of business is simple to start, takes little initial cash, and yields large profits.
Personal liability of the proprietors of a limited liability corporation (LLC) may be limited in specific instances. When a company is still in its early phases, it cannot be held liable.
LLCs are not required to pay federal income tax. LLC revenue taxes are usually reflected on individual owners' tax filings rather than the LLC's financial records due to the possibility of "pass-through" taxation.