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What is a two member LLC called?

There are two key differences between an LLC and a partnership: how they are formed and liability. A partnership is a business where two or more individuals operate the company as co-owners.

Can two LLCs work together?

Yes, two different limited liability companies can conduct business under a single business name. The LLCs might engage in a joint venture without creating a separate legal entity. Or they might create a general partnership or another LLC to run the business.

How are LLCs taxed in Ohio?

State Business Taxes By default, LLCs themselves do not pay federal income taxes, only their members do. Ohio, however, has a Commercial Activity Tax that applies to most Ohio business entities including LLCs. The tax is based on gross receipts for your business and is calculated at a small series of marginal rates.