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    Business Structure: Differences

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    Describe the differences among corporations, LLCs and limited partnerships.

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    Step 1
    A limited liability corporation gives limited liability protection to owners and members, and the profits go direct to the members. The LLC has the advantages of both a corporation and a partnership.
    Step 2
    The corporation protects its shareholders from the liabilities of the company. Corporations pay taxes on their profits and its earnings are taxed twice both in ...

    Solution Summary

    This solution explains business structures. The sources used are also included in the solution.