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What is another word for limited liability company?

Pronunciation: [lˈɪmɪtɪd lˌa͡ɪəbˈɪlɪti kˈʌmpəni] (IPA)

A limited liability company, or LLC, is a popular business structure in which owners enjoy limited liability protection while maintaining flexibility in management and taxation. However, there are several synonyms for LLC that may be used interchangeably in different jurisdictions. One alternative is "limited liability partnership," or LLP, which offers similar protections but has different requirements and tax implications. Another similar term is "limited company," commonly used in the UK and other Commonwealth countries. Additionally, some states in the US recognize "professional limited liability company" (PLLC), a type of LLC specifically for licensed professionals like doctors or lawyers. Regardless of the specific terminology used, many entrepreneurs prefer the limited liability structure due to its numerous benefits.
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What are the hypernyms for Limited liability company?

A hypernym is a word with a broad meaning that encompasses more specific words called hyponyms.

Related words: llc vs corporation, llc vs s-corp, llc vs sole proprietorship, llc tax benefits, llc structure

Related questions:

  • Does a limited liability company have to file taxes?
  • What is the difference between an llc and corporation?
  • What is an llc taxed as?
  • What is a limited liability company taxed as?

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