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Glossary

FundKite Glossary of Business Finance Terms.

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Limited Liability Company

LLC are a business entity where the owners are not personally liable for the businesses debts. Limited liability companies are hybrid entities that combine the characteristics of a corporation with those of a partnership or sole proprietorship. For an LLC there’s no need to file a corporate tax return. LLC owners report their share of profit and loss on their individual tax returns, meaning you avoid double taxation.

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