What is a Limited Liability Company?
Updated October, 2026.
Editor’s note: This blog post represents historical legal commentary. This article was originally published in 2012 and discusses the structure, taxation, and operation of limited liability companies under the laws in effect at that time. California’s Revised Uniform Limited Liability Company Act took effect on January 1, 2014, replacing the previous statutory framework.
Limited liability companies offer business owners considerable flexibility in structuring...