Limited Liability Company $($LLC$)$ v

$2.$ Allison's company is a hybrid of other legal structures and has the advantage of minimizing recordkeeping and reporting requirements.

$3.$ Zhen and two of her best friends have started a business together and have decided that the three of them will share profits and losses equally.

$4.$ Noah is having a hard time getting a bank loan for his business because of the amount of risk he is exposed to as the single owner of the business.

$5.$ Emilio's business is a legal entity that is separate from him and the other owners. It passes its income, losses, deductions, and credits on to its shareholders for federal tax purposes.

$6.$ Tyra and the other owners of her business are not personally liable for the company's debts or any lawsuits against the company. She and the other owners can list the business' profits and losses on their personal tax returns.

$7.$ Rasha's business pays taxes on the profits it makes. Then, its shareholders pay taxes on these profits when they receive dividends.