Limited Liability Company (LLC)

 

Limited Liability Company (LLC): A hybrid business entity having certain characteristics of both a corporation and a partnership or sole proprietorship (depending on how many owners there are). An LLC, although a business entity, is a type of unincorporated association and is not a corporation. The primary characteristic an LLC shares with a corporation is limited liability, and the primary characteristic it shares with a partnership is the availability of pass-through income taxation. It is often more flexible than a corporation, and it is well-suited for companies with a single owner and rental real estate holdings.

 

For more information on this topic, contact us at http://geigerlawoffice.com/contact.cfm or call (760) 448-2220 to schedule an appointment with one of our experienced estate planning attorneys. Also, check out our estate and business planning books at http://geigerlawoffice.com/reports/.