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: Owners (called members) generally aren't personally responsible for business debts or lawsuits. This shields personal assets like homes and cars from being seized to pay company obligations.
A Limited Liability Company (LLC) is a popular business structure in the United States that blends the of a corporation with the tax flexibility and simplicity of a partnership or sole proprietorship. Core Benefits LLC.1080p.p
: Members may have to pay self-employment taxes on their share of the profits. LLC.1080p.p
: Most states require an initial filing fee and ongoing annual reports or franchise taxes. LLC.1080p.p