There’s a lot to consider and plan before you launch, and it’s important to prepare yourself for entrepreneurship. If you’re ready to start your first business, SAFETY TAX is here to help you navigate through the first step you need to do to make it happen and will be at your side after as well because you can always count on us.
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A limited liability company is the US-specific form of a private limited company.
It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.
An LLC is not a corporation under state law; it is a legal form of a company that provides limited liability to its owners in many jurisdictions.
LLCs are well known for the flexibility that they provide to business owners; depending on the situation, an LLC may elect to use corporate tax rules instead of being treated as a partnership. In certain U.S. states, businesses that provide professional services requiring a state professional license, such as legal or medical services, may not be allowed to form an LLC but may be required to form a similar entity called a professional limited liability company.
A corporation is an organization—usually a group of people or a company—authorized by the state to act as a single entity (a legal entity recognized by private and public law 'born out of statute"; a legal person in a legal context) and recognized as such in law for certain purposes. Most jurisdictions allow the creation of new corporations through registration.
Corporations come in many different types but are usually divided by the law of the jurisdiction where they are chartered based on two aspects: by whether they can issue stock, or by whether they are formed to make a profit.
Depending on the number of owners, a corporation can be classified as aggregate or sole (a legal entity consisting of a single incorporated office occupied by a single natural person).
By clicking on the blue button, we will redirect you to an encrypted and safe area of our system where we will collect all information needed to start your new company registration process.