Limited Liability Company (LLC)

Definition of "Limited Liability Company (LLC)"
  1. A type of business structure that protects owners' personal assets from company liabilities and allows profits and losses to be taxed on owners' personal income tax returns
How to use "Limited Liability Company (LLC)" in a sentence
  1. She decided to structure her business as a Limited Liability Company (LLC) to protect her personal assets.
  2. The Limited Liability Company (LLC) paid the taxes on their profits through the owners' personal tax returns.
  3. Having a Limited Liability Company (LLC) provided the owners with a protective layer against business-related debts.
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