LLC Definition

Hello this is your LLC Guru, wondering about LLC Definition?  Here at our site, we help regular people get their own LLC’s quickly, inexpensively, and with confidence!  If you need an LLC, you are in the right place!  We’ll help you get your own LLC in about 10 minutes!

In this post, I will talk about the definition of an LLC.  The term LLC is just an abbreviated form for Limited Liability Company.  A Limited Liability Company, or LLC for short, is a business structure in the United States allowed by State statute. Each State may use different regulations concerning LLC’s.

Now that you have the definition and a better understanding of LLC’s, I will also explain why you may want to consider getting one – but before we get into that, please note, that I am not providing any legal or tax advice here. 

So, the term LLC is actually an acronym or an abbreviation for Limited Liability Company. An LLC protects its owners from personal responsibility for its liabilities.  Corporations do this as well but those are typically much more complicated and expensive to set us as well as maintain.

As mentioned, an LLC does limit the liability of the owner or owners similar to a corporation, but it also has the ability to perform as a flow-through for taxation to the members of the LLC.  In other words, LLC’s shield you from liability and allow you to pass your income through the LLC and only pay tax once at your personal rate, as a sole proprietor would. This makes an LLC perfect for most small businesses!

In my next post, we will unpack more details around LLC’s. If you are considering an LLC, please check out some of my other posts here on this site or check out our videos on YouTube so you can learn more helpful information about LLC’s and how to use them to protect yourself in business. This is YourLLCGuru – thanks for reading!