(LLC)Limited Liability Companies
Different LLCs
Single-Member LLC:
A Single-Member LLC is a business structure where the LLC is owned and operated by one person. This structure provides personal liability protection for the owner, while also allowing for pass-through taxation and a flexible management structure. Single-Member LLCs are the most common type of LLC.
​Multi-Member LLC:
A Multi-Member LLC is a business structure where the LLC is owned and operated by two or more people. This structure provides personal liability protection for the owners, while also allowing for pass-through taxation and a flexible management structure. Multi-Member LLCs are ideal for businesses with multiple owners or partners.
List ​Series LLC:
A Series LLC is a business structure that allows a single LLC to establish separate "series" or divisions, each with its own assets, liabilities, and members. This structure provides personal liability protection for each series, while also allowing for pass-through taxation and a flexible management structure. Series LLCs are ideal for businesses with multiple divisions or subsidiaries.
Low-Profit Limited Liability Company (L3C):
An L3C is a business structure that is designed for social enterprises or businesses with a charitable mission. This structure allows the LLC to generate revenue while also pursuing a social or charitable purpose. L3Cs are eligible to receive grants and donations from foundations and other charitable organizations.​
Professional Limited Liability Company (PLLC):
A PLLC is a business structure that is designed for licensed professionals, such as lawyers, accountants, or doctors. This structure provides personal liability protection for the owners, while also allowing for pass-through taxation and a flexible management structure. PLLCs are subject to certain licensing requirements and regulations.