Business and Personal Finance Dictionary

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 

• LIMITED LIABILITY COMPANY OR LLC
  
  A non-incorporated association that resembles a corporation in some ways and a partnership in others. Under USA law, an LLC generally will be taxed as a partnership (meaning it will not pay separate income tax as an entity), but will enjoy the limited liability of a corporation.
  
  Back