LLC
Definition
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.
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. ”
“ 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. ”
“ 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. ”
