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Can an LLC be a CO?

Thus, an LLC with multiple owners can either accept its default classification as a partnership, or file Form 8832 to elect to be classified as an association taxable as a corporation.

What is the difference between a LLC and a co inc?

Both corporations and LLCs have owners, but in a limited liability company, the members own the assets of the business because of the investments theyve made. In contrast, a corporations owners own stock shares, but they do not own corporate assets.

Does co mean LLC?

So, the company can be a limited liability company, sole proprietorship, or another structure. Abbreviating company as co does not have a specific meaning regarding a businesss legal structure. This means that it is not important to use it, although some people do use this abbreviation in their company names.

Can I use CO instead of LLC?

Using CO (short for company) is generally allowed, but it must not conflict with legal naming conventions for LLCs: Your name cannot imply a different business structure, such as corporation or incorporated. State LLC laws require LLC, L.L.C., or similar indicators in your official name.