Limited Liability Company (LLC)

GPTKB entity

Statements (50)
Predicate Object
gptkbp:instanceOf gptkb:public_company
gptkbp:abbreviation LLC
gptkbp:canBe real estate investments
disregarded entity (for tax purposes)
holding companies
manager-managed
member-managed
multi-member
operating businesses
single-member
taxed as C corporation (if elected)
taxed as S corporation (if eligible)
gptkbp:canBePossessedBy prop
gptkbp:canElectToBeTaxedAs gptkb:company
gptkbp:canEnterInto contracts
gptkbp:canSueAndBeSued in its own name
gptkbp:characteristic flexible management structure
limited liability
pass-through taxation
gptkbp:compatibleWith gptkb:company
gptkb:organization
sole proprietorship
gptkbp:dissolved members
state action
gptkbp:distinctFrom its members
gptkbp:firstReleased 1977
gptkbp:formedBy filing articles of organization
gptkbp:governedBy operating agreement
https://www.w3.org/2000/01/rdf-schema#label Limited Liability Company (LLC)
gptkbp:isCommonlyUsedIn gptkb:United_States
gptkbp:isNotRequiredTo issue stock
gptkbp:isTaxedAs partnership (if multi-member)
sole proprietorship (if single-member)
gptkbp:mayInclude foreign members
different classes of membership interests
domestic members
one or more members
gptkbp:offers protection from personal liability
gptkbp:originatedIn gptkb:Wyoming,_United_States
gptkbp:popularFor startups
small businesses
gptkbp:recognizedBy gptkb:United_States
various countries
gptkbp:regulates state law (in the US)
gptkbp:requires annual reports
annual fees
gptkbp:subject self-employment tax (in the US)
state-specific rules
gptkbp:bfsParent gptkb:Emerson_Collective
gptkbp:bfsLayer 3