USA
Limited Liability Company. Not really a corporation, and not really a partnership; it's something different altogether. Most states require at least two people to form an LLC, but some states require only one. An LLC has limited liability (hence the name), and unlimited life ( i.e., the charter does not expire). In the United States, Corporations typically pay taxes, then distribute the profits via dividends, and the recipients must pay taxes on the dividends. An LLC allows for pass through taxation, which means that the income a company makes goes directly to the owners on their tax forms (even if the profits were not distributed). LLC's may have several different classes of stock. Company Extensions and Security Identifiers
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LLC LLC
written abbreviation for limited liability company
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US company title: abbreviation of limited liability company.
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LLC UK US noun [C]
► LAW ABBREVIATION for Limited Liability Company: a form of company in the US whose owners are not legally responsible for the company's debts if those debts are above a particular amount: »
State law requires LLCs to produce annual reports.
Financial and business terms. 2012.