The two major advantages of a limited liability company are flexibility of ownership structure and the ability to elect to be taxed either as a corporation or as a partnership while maintaining limited liability for the owners.

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A limited liability company (LLC) offers flexible ownership structures that can accommodate various management and ownership arrangements. Additionally, LLCs have the option to choose how they want to be taxed, which can provide tax benefits to the owners while still maintaining limited liability protection.

The Two Major Advantages of a Limited Liability Company Are