Limited Liability Company

The video provides an overview of Limited Liability Companies (LLCs), explaining their recognition across the US, the roles of members, and the flexibility in management structures. It highlights the importance of limited liability protection for members, the formalities required to maintain this protection, and the process of forming an LLC. The video also covers the taxation of LLCs, emphasizing pass-through taxation, and details how members are compensated, distinguishing between member-managed and manager-managed LLCs.

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