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Law in Brief: Formation and Key Concepts of Corporations and LLCs (Source material included)
Corporations and LLCs are two common types of business entities. Corporations are formed by filing articles of incorporation with the Secretary of State. They are characterized by limited liability, separate legal entity status, perpetual existence, and double taxation. LLCs are formed by filing articles of organization with the Secretary of State. They are characterized by limited liability, pass-through taxation, and flexible management.
Published on 11 months, 2 weeks ago