LLCs are formal legal entities that aretypically taxedsimilarly tosole proprietorshipsandgeneral partnership vs LLC, in that the owners include any company profits or losses into their personal returns — the LLC itself does not owe income taxes. For more a more in-depth description see:What is...
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What are the similarities and differences in financial strategies for sole proprietorship, corporation, partnership and LLC? What are the characteristics of American democracy? How does American democracy differ from the theory of democratic government? How does downsizing affect corporate governance?...