Amazon Business

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For that reason, a relatively new (first available in Wyoming in 1977 and other states within the Nineties) business construction, a limited legal responsibility firm (LLC) , is obtainable; this construction combines the pass-by way of taxation advantages of a partnership with the limited-liability advantages of a company.

Basic partners in a partnership (other than a restricted legal responsibility partnership), plus anybody who personally owns and operates a business with out creating a separate legal entity, are personally chargeable for the debts and obligations of the enterprise.

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