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Definition:
A corporate structure that limits the amount of liability the owners
have. If the company is sued or goes bankrupt, the owners
are not responsible for debts or settlements.
TeenAnalyst Advice:
Forming an LLC is a relatively easy process that has a number of
advantages. One of these is that they can be represented as
a legally separate entity.
On the downside, LLC's have to pay annual franchise taxes and they're
required to keep more paperwork.
TeenAnalyst.com is an LLC, officially recognized as TeenAnalyst.com,
LLC.
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