Much like a corporation, the members of an LLC are not

le 23/05/2015
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An LLC or limited liability company is not a corporation or a partnership, but it does offer some of the same benefits to its members. Much like a corporation, the members of an LLC are not personally responsible for company debt, can have unique distributions to members, and it does not require the members to record, retain or keep meeting minutes. An LLC is also a pass through tax entity where all expenses and profits or losses are passed through the LLC and each member receives a K 1 tax form to file with their personal tax return preventing double taxation..

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