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The LLC is a legal entity that is separate from its members. It is the most popular business structure in the U.S.A.

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Pros

• Perpetual life

• Limited liability of shareholders’ personal assets 

• Ability to raise capital via the issuance of stock

• No residency or citizenship requirements

• Ease of transfer of ownership

• Can be established as a subsidiary of another organization rather than individuals

• Unlimited number of shareholders and owners

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Cons

• More expensive to form and maintain

• Require annual meetings, writing of minutes, and other formalities

• Subject to double taxation

• Annual fees can be costly and burdensome for some businesses

• Less flexibility due to regulations governing C Corps

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