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what type of entity is best for a Limited Liability Company?

what type of entity is best for a Limited Liability Company?
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Answer #1
  • Owners requiring sole or primary control of the entity is best for a Limited Liability Company.
  • A limited liability company is suitable for business structure where owners are not personally liable for company's debt and liabilities.
  • Hybrid entities that are combination of the characteristics of a corporation with that of a partnership or a sole proprietorship are best for a Limited Liability Company.
  • Limited liability companies is best for entity requiring separate legal existence, limited liability, flexibility in taxation, and simplicity in operation.
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