A limited liability company (LLC)is taxed like a partnership but provides limited liability for its owners,similar to a corporation.

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An LLC is generally taxed like a partnership, with the profits and losses flowing through to the individual owners' personal tax returns. However, one of the main advantages of an LLC is that it provides limited liability protection for its owners, similar to a corporation.

A Limited Liability Company (LLC)is Taxed Like a Partnership but Provides