Is llc a corporation?

[tonny]

Hi everyone, I’m a bit confused about business structures — is an LLC considered a corporation? How are they different when it comes to ownership, taxes, and legal liability?

 

[Gsusangrey]

No, a limited liability company, or LLC, is not the same as a corporation. This hybrid business structure is distinct.

By combining the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation (which protects personal assets), an LLC typically avoids "double taxation." The management requirements and formalities are more stringent for corporations.

 

[kuldeep]

No, an LLC is not a corporation. An LLC (Limited Liability Company) is a separate business structure that combines features of both a corporation and partnership. It offers liability protection like corporations, but tax treatment is more flexible. Owners of LLCs are called members, not shareholders like corporations.

 

[alexie]

No, an LLC is not a corporation. The LLC (Limited Liability Company) is an independent business entity that incorporates both the characteristics of a corporation and partnership. It provides the tax structure similar to the corporations, but liability protection is more liberal. Members, rather than shareholders as is the case with corporations, are the owners of LLCs.