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A limited liability company (LLC) is a business entity created under Arizona state laws that has characteristics similar to both a corporation and a limited partnership with some structural differences.
Some structural features may differ from a corporation. A limited liability company is owned by its members; a corporation is owned by its shareholders. A limited liability company is managed by either a manager or members; a corporation is managed by a Board of Directors and corporate officers.
A big difference of a limited liability company in comparison to a corporation is its income tax treatment. This is reason enough for you to exhaustively discuss your choice of entity, whether LLC or corporation, with your lawyer or tax advisor.
Arizona Paralegal Services in Tucson, AZ can efficiently assist you in the formation of whatever entity you choose. Since we are not lawyers or tax advisors, we cannot advise you as to which entity would best suit your needs.