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  1. What Are The Differing Types Of Companies?

    A limited liability firm is a mix of a corporation and partnership. While the business has the legal responsibility for any problems, it does not pay federal taxes. Its house owners, or "members," do. Nonetheless, some states tax LLCs. A single particular person or two or extra people, firms or LLCs can own a limited liability company. Each state has its own guidelines for organising the business, which includes selecting a name, submitting documents and buying licenses or permits. ...