iA Limited Liability Company (LLC) is a business structure allowed by state statute. LLCs are popular because‚ similar to a corporation‚ owners have limited personal liability for the debts and actions of the LLC. Other features of LLCs are more like a partnership‚ providing management flexibility and the benefit of pass-through taxation. Owners of an LLC are called members. Since most states do not restrict ownership‚ members may include individuals‚ corporations‚ other LLCs and foreign entities
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Brief Overview of Limited Liability Companies Introduction Limited Liability Company (LLC) is often considered as the hybrids of general partnership and corporation. It often referred as a general partnership where the partners have no personal liability and a limited partnership where there is no general partner or a partnership surrounded by a corporate shell (Seipel‚ Tunnell & Zimmermann‚ 1995). The LLC is first adopted in Wyoming in 1977 and then in Florida in 1982. However‚ LLCs
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Roles of Limited Liability Corporations and Partnerships Martin M. Komertz FIN 419 3/21/2011 John Wetherington Roles of Limited Liability Corporations and Partnerships In the following paper‚ I will look to identify the roles and differences between Limited Liability Corporations and Partnerships. Each has different advantages and disadvantages than the other. I will look to break down each and then identify which method of ownership would be the preferred method from an individual
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Limited Liability Corporation and Partnership In the United States‚ limited liability companies increased rapidly throughout the past 10 years. These structures permit businesses to decrease federal tax liabilities by federal pass-through provisions (Bean & Bilyeu‚ 1997). Limited liability can apply to any non-corporate business‚ in any state‚ and provides characteristics of a corporation and a partnership. Individual states regulate the operations of the LLCs. However‚ companies with limited
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2. THE FEATURES OF THE LIMITED LIABILITY COMPANY Limited Liability Company‚ along with other types of business entities‚ as well as business partnerships‚ cooperatives‚ state and municipal unitary enterprise is a commercial organization‚ namely organizations that pursue profit as the main goal of their activities and distributing the profits among the participants. This limited liability is characterized by the fact that the current (operational) management in the company (as opposed to partnerships)
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Partnership and Limited Liability Partnership organization and to advise Mr. Tan on the business organization that is more likely to fit his needs for setting up a new consulting business. For this particular project‚ our group assumed that Mr. Tan used to be an accountant working for a big accounting firm and is now looking to set up a small accounting consultancy business. 1 Process Required to Setup Business Organization Below are the processes to setting up a partnership and a limited liability
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Internship Report Customer Satisfaction: A Study on Bank Alfalah Limited Exam Roll: 020016 Internship Report on Customer Satisfaction: A Study on Bank Alfalah Limited Prepared For: Chairman Internship Placement Committee Prepared By: Exam Roll No.: 020016 Registration No.: 18122 4th Year‚ 8th Semester Batch No.: 12th‚ BBA Program Academic Session:
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Firstly‚ one of the main advantages of a Private Limited Company over a sole trader is that‚ members may enjoy the availability of Limited Liability‚ hence the business is incorporated (i.e. the business has a separate identity from the owner).Therefore‚ liability for payment of debts stops at the Company‚ and owners and shareholders are not personally liable for any other debts than that of which they have purchased. On the other hand‚ a sole trader’s liability status is unlimited and there is no
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COMSATS Institute of Information Technology‚ Sahiwal Internship Report on [pic] Renala Khurad‚ District Okara‚ Pakistan Submitted to: Dr. Nadeem Akhtar (Assistant Professor) Submitted by: Abeer Zohra MBA-SP09-031 (B4) Submitted on: September 3‚ 2010 CIIT Sahiwal COMSATS Road‚ Off GT Road‚ Sahiwal Phone: 92-040-4016302 Email: info@ciitsahiwal.edu.pk Website: www.ciitsahiwal.edu.pk [pic] In the Name Of Allah‚ The Most Gracious‚ The Most Merciful. اقْرَأْ بِاسْمِ رَبِّكَ الَّذِى خَلَقَ
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Mini-Assignment #1 – Case: McCain Foods Limited Using the case titled ’McCain Foods Limited: Global Fries—Good in Any Language’ on pages 100-101 in your text‚ please answer the following questions: 1. If you were in charge of the Asian operations for McCain‚ how would you recommend the company overcome the challenges in the Chinese market? 2. Drawing from Hofstede’s work on global cultures‚ what challenges might Canadian managers at McCain face when interacting with their Chinese business
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