LLC Stands For?

Hello, this is your LLC Guru, wondering what LLC stands for?  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, YourLLCGuru.com, we’ll help you get your own LLC in about 10 minutes!

In this post, I will explain what the term LLC stands for as well as 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. 

The term LLC is actually an acronym or an abbreviation for Limited Liability Company. 

A Limited Liability Company or LLC for short, is a type of business entity that can have one or more owners.  The owners are referred to as “members.” 

It is important to note that the term LLC stands for limited liability company – NOT corporation.  A corporation is an entirely different entity.

Since LLCs provide limited liability, many small business owners choose to run their business as an LLC. This helps protect their personal assets and in many cases makes it easier to set up business bank accounts and set up contracts for the business.  It also provides a certain level of legitimacy.  People often view an LLC as more professional than a sole proprietorship, and for good reason.  An LLC operates much like a sole proprietorship or partnership yet provides such protection a person would almost be a fool to stay a sole proprietor due to the risk.

Starting a business is an exciting adventure and you want to be sure you do everything correctly to ensure smooth sailing so that your business can take off.  Having an LLC in place is one step that can help you protect yourself and your family from any potential problems down the road.

Now that you know what an LLC is and why many people opt to have their business set up as an LLC, I would also like to point out one other really important fact about LLC’s. If you have a single-member  LLC, it can be ordinarily taxed like sole proprietorships.  Multi-member LLCs can file as partnerships which can be a big advantage. 

In my next post, we will unpack more details about LLC’s. If you are considering an LLC, please check out some of our other articles on this site or our videos on YouTube so you can learn more helpful information about LLC’s and how to use them to protect yourself in business.