Business / Taxes / Limited Liability Company: Organizing a business enterprise as a limited liability company (LLC) under the laws of the state where it operates protects its owners or shareholders from personal responsibility for company debts that exceed the amount those owners or shareholders have invested. In addition, an LLC’s taxable income is divided proportionally among the owners, who pay tax on their share of the income at their individual rates. The LLC itself owes no income tax. The limited liability protection is similar to what limited partners in a partnership or investors in a traditional, or C, corporation enjoy. The tax treatment is similar to that of a partnership or S Corporation, another form of organization that’s available for businesses with fewer than 75 employees. However, only some states allow businesses to use LLC incorporation.
Company Noun Synonyms: companionship, society, fellowship, attendance, presence, associates, friends, companions, comrades
Liability Noun Synonyms: answerability, responsibility, burden, onus, accountability
Liability Adjective Synonyms: disadvantage, drawback, hindrance, impediment, encumbrance, snag, hitch, barrier, obstacle, obstruction, burden, onus
Limited Verb Synonyms: circumscribed, restricted, fixed, predetermined, small, little, reduced, minimal
Business / Real Estate / Mortgage Broker-Company: A person or firm that acts as an intermediary between borrower and lender, one who, for compensation or gain, negotiates, sells or arranges loans and sometimes continues to service the loans, also cal MORE
Business / Construction / Mortgage company : A company that borrows money from a bank, lends it to consumers to buy homes, then sells the loans to investors. MORE