What Are Companies With LLC in Their Name?


Quick Answer

Companies with LLC in their name are limited liability companies, a legal structure allowing the business owners some protection against liability, while getting the tax benefits of a partnership. Depending the state, an LLC can consist of one or more partners that can be individuals, corporations or other LLCs.

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Full Answer

LLCs are not taxed as a business entity. Instead, the company's income passes through the business structure and is declared on the individual partner's federal tax returns. When forming an LLC, three rules must be followed. The name has to be unique from any other LLC formed in the same state, it also must contain the letters LLC or a statement identifying it as a limited company, and depending upon the state can not include certain words, such as bank or insurance.

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