wood burning stoves 2.0*
The moose likes Meaningless Drivel and the fly likes LLC and Inc Big Moose Saloon
  Search | Java FAQ | Recent Topics | Flagged Topics | Hot Topics | Zero Replies
Register / Login


Win a copy of Murach's Java Servlets and JSP this week in the Servlets forum!
JavaRanch » Java Forums » Other » Meaningless Drivel
Bookmark "LLC and Inc" Watch "LLC and Inc" New topic
Author

LLC and Inc

Manish Hatwalne
Ranch Hand

Joined: Sep 22, 2001
Posts: 2578

What's the difference between a company that's LLC and one that's Inc?
- Manish
frank davis
Ranch Hand

Joined: Feb 12, 2001
Posts: 1479
Originally posted by Manish Hatwalne:
What's the difference between a company that's LLC and one that's Inc?
- Manish

Its my understanding that a LLC is a type of partnership somewhere between a regular partnership (unlimited liability for all partners) and a more corporate type entity (in terms of liability). Hence the name, Limited Liability Corporation.
Thomas Paul
mister krabs
Ranch Hand

Joined: May 05, 2000
Posts: 13974
The LLC is not a corporation, but it offers many of benefits of a corporation. Many small business owners and entrepreneurs prefer LLC�s because they combine the limited liability protection of a corporation and the pass through taxation of a sole proprietorship or partnership. The downside to an LLC is that it does not offer the free transferability of ownership, perpetual existence, and the ability to be totally owned by a single individual that one gets with a corporation.

Partnerships are taxed in the same manner as LLCs. However, members of a partnership may have greater exposure to the liabilities of the partnership. The members of a general partnership and the general partners of a limited partnership are fully liable for the debts and obligations of the partnership.


Associate Instructor - Hofstra University
Amazon Top 750 reviewer - Blog - Unresolved References - Book Review Blog
 
permaculture playing cards
 
subject: LLC and Inc
 
Similar Threads
US Technology
Whats the latest song thats caught ur fancy
starting consulting corp, LLC ok?
Trying to use string similarity match algorithms not very effective any ideas how to make better
Love you all members of javaranch