Limited Liability Company is the LLC is not a corporation, but it offers many of the same advantages. Many small business owners and entrepreneurs prefer LLC's because they combine the limited liability protection of a corporation with the "pass through" taxation of a sole proprietorship or partnership. LLC's have additional advantages over corporations: LLC's allow greater flexibility in management and business organization. LLC's do not have the ownership restrictions of S Corporations, making them ideal business structures for foreign investors. LLC's accomplish these aims without the IRS' restrictions of an S Corporation. LLC's are now available in all 50 states and Washington, DC.
Barry Goldsmith
| APA | Barry Goldsmith. (2010). limited liability company. Retrieved September 25, 2026, from http://smartdefine.org/limited_liability_company/definitions/1157253 |
| Chicago | Barry Goldsmith. 2010. "limited liability company" http://smartdefine.org/limited_liability_company/definitions/1157253 (accessed September 25, 2026). |
| Harvard | Barry Goldsmith 2010, limited liability company, Smart Define, viewed 25 September, 2026, <http://smartdefine.org/limited_liability_company/definitions/1157253>. |
| MLA | Barry Goldsmith. "limited liability company" 21 October 2010. Web. 25 September 2026. <http://smartdefine.org/limited_liability_company/definitions/1157253> |