Limited Liability Company. A type of company, authorized only in certain states, whose owners and managers receive the limited liability and (usually) tax benefits of an S Corporation without having to conform to the S corporation restrictions.

For more information, see The Difference between an S Corporation and an LLC.

Use LLC in a sentence

They told me that they were an LLC and that made me wonder about it, so I went and talked to my dad about it.

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Between a partnership, incorporation, or LLC, It took us a while to decide which type of company we wanted to form for our new business.

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My Brown and his partner wanted to set up a business. However, they wanted to protect themselves from additional liability. So, LLC was their choice.

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tax status Onechicago, LLC