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Commonly Asked Questions about All organizations limit the liability of their owners Business Forms

A limited liability company (LLC) limits the potential for its members to be personally liable for the LLCs business debts. It features pass-through taxation.
Several limited liability structures exist, such as limited liability partnerships (LLPs), limited liability companies (LLCs), and corporations.
Certain forms of businesses allow owners to limit their liability. These include limited partnerships and corporations.
Corporations offer the strongest protection to its owners from personal liability, but the cost to form a corporation is higher than other structures.