Thank you for your question.
An LLC is different from a regular corporation
in the following ways:
1. An LLC has members, not shareholders
. The members may not sell their shares to the LLC freely and their memberships do not necessarily have set values. A membership is more like a partnership
2. An LLC may not issue "shares" to be sold to raise money for the LLC. To raise money, it must either issue a promissory note, or it must bring in more members to become investors.
3. An LLC may be managed by the members, or by a professional manager, who is hired by the members.
4. An LLC pays taxes differently than a corporation. A corporation is taxed on the corporate level, and then the shareholders are taxed on the distributions from the corporation. An LLC is not taxed on the corporate level and is taxed as a partnership.
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