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A limited liability company ( LLC) is the United States -specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. [1] An LLC is not a corporation under the laws of every state; it is a legal form of a ...
Business is the practice of making one's living or making money by producing or buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit."