What does OBJ mean in ASX SYMBOLS

An LLC, or Limited Liability Company, is a type of business entity that provides limited personal liability protection to owners. It is similar to a corporation in many ways, but with more flexible management and taxation structures.

Some of the benefits associated with forming an LLC include liability protection for owners, pass-through taxation, and less need for formal management structures than corporations have.

The requirements for forming an LLC vary from state to state but typically include filing Articles of Organization with the Secretary of State or local government office as well as paying incorporation fees. Additionally, most states require that every member of an LLC be at least 18 years old and have their name listed on the Articles of Organization.

Pass-through taxation allows LLC members to report their share of profits or losses on their individual tax returns rather than having to pay corporate income tax separately. This simplifies taxes by eliminating double taxation which would otherwise occur when profits are taxed twice - once at the business level and then again at the individual level.

Any person over 18 can own an LLC regardless of residency status or nationality as long as they meet any additional requirements set forth by their particular state. Additionally, all persons involved must be listed on the Articles of Organization at the time it is filed with the Secretary of State's Office.