A limited liability company (LLC) is a business structure formed to protect the personal assets of its owners from liability. This means that LLCs have to pay taxes to stay compliant with state law and not get fined for failing to do so.
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Many people struggle with understanding how to set up LLC because they don’t know all the steps to take in order to get their new business off the ground.
An LLC is a limited liability company. It means that members of an LLC are limited in their liability by the amount they invest into the company.
