What does it mean to have a limited liability company, or an LLC?


A limited liability company is probably the most common form of business in the state of Florida. It’s a basic corporation. You do have certain requirements, but they’re minimal as opposed to some of the more complex stuff that may be involved with the traditional corporation. It affords you legal protection. In other words, if you’re doing business under this type of entity and somebody sues you, they cannot necessarily sue you individually. They have to sue the company. Typically there’s an agreement as to what everybody who has to do within this company and how they are to proceed.


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