A limited liability company provides limited liability for the owners but is taxed like a partnership.

Name: A limited liability company provides limited liability for the owners but is taxed like a partnership.
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A limited liability company (LLC) offers limited liability protection to its owners, similar to a corporation, but it is typically taxed as a pass-through entity like a partnership, meaning the income is taxed at the individual owner's level.

A Limited Liability Company Provides Limited Liability for the Owners