How do we define: limited liability company?
Limited Liability Company or LLC provide limited liability to their members, however are taxed like a partnership, preventing double taxation. LLCs can be formed in every state. An LLC is formed upon filing articles of organization with the proper state authorities and paying all fees. LLCs are a relatively new entity in the United States, gaining more widespread acceptance during the early 1990's, although the concept has long been used internationally.
Every new business owner must learn about incorporating their company. Learning how to incorporate your company is critical to starting up and protecting your future.