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Limited Liability Company Llc  Form

Limited Liability Company Llc Form

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Instructions and help about company operating

I'm forming a business and I want it all this statement encompasses the thought behind the limited liability company or as it's often referred to the LLC LLC's combine many of the best aspects of the corporation and the partnership it's a hybrid business entity that allows members to be taxed like a partnership but limits personal liability like a corporation unlike corporations sole proprietorships and partnerships LLC's are a relatively new type of business entity by 1990 for nearly every state had adopted LLC statutes but they were not uniform in 2006 the revised Uniform limited liability company Act was written to identify the best elements of the myriad of first generation LLC statutes and to fuse those elements into a new second generation uniform act this act has been adopted by several states and is being considered by several more even though the act is still in the process of being adopted it does provide a good overview of how LLC&

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