What Is an LLC? And How Is It Different Than a Corporation?
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Most “movers and shakers” need to pick between establishing a corporation (aka Inc.) or a limited liability company (aka LLC).
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This can be a tough decision, largely because it’s difficult to understand the differences (let alone which might benefit you more)!
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An LLC, or limited liability company, is a legal business entity you form to protect your personal assets from liability.
What is an LLC?
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The other most common option is a corporation (aka a corp or Inc.). Corporations are another business entity that also provides liability protection.
What is a corporation?
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Choosing between the two will depend on your business type and needs and your own liability and tax planning goals.
What are the differences between an LLC and a Corp?
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An LLC is typically either owned by one person or a small group of co-founders. But technically, an LLC doesn’t have “owners”; it has “members.”
Ownership
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Meanwhile, an Inc. effectively belongs to the people who hold shares in it, and the company management is accountable to those shareholders.
Ownership
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