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IDENTIFICATION
-Atahualpa
Corporate Double Taxation
A tax principle where a corporation's income is taxed at both the corporate level and again as shareholder dividends at the personal level.
Personal Liability
The responsibility of an individual to bear the loss or to repay the debt from their own assets.
Operating Agreement
A document that outlines the governance and operating procedures of a limited liability company (LLC) among its members.
LLC
Limited Liability Company, a business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.
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