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Inc or LLC or both?

Asked by: rogerm - 5 September, 2011
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/default.png-f1597c1da25f30f8c1a941405e8391c8 When starting a new business, do I need to be both Inc. & have LLC?
Answered by: Alec Green - 5 September, 2011
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/2.jpg-d85fc946de818bb769fdd6ce8cd95478 Roger,

Just to clear out any confusions there might be, a corporation and an LLC are different types of legal entities, and a corporation cannot be at the same time an LLC (and vice versa). Both entities have a lot in common (such as limitation of liability of owners), however each comes with its own advantages and disadvantages.

As far as names go you would typically put "Inc." in the end of the name of a corporation (but not limited to - some other variations are allowed such as "Corp", "Corporation", "Incorporated", etc.), and "LLC" in the end of a name of an LLC (other variations include "L.L.C.", "Limited Liability Company", etc.).

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