What is a limited liability company (LLC)?
An example of an AI chatbot conversation about business structures like LLCs.
What is a limited liability company (LLC)?
A limited liability company (LLC) is a business structure that offers personal liability protection to its owners.
What are the benefits of forming an LLC?
Some benefits include limited liability protection, tax flexibility, and fewer formalities compared to corporations.
How do I form an LLC?
To form an LLC, you typically need to choose a name, file articles of organization, and pay the required fees.
Are there any disadvantages to an LLC?
Yes, disadvantages can include self-employment taxes and varying regulations by state.
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