this post was submitted on 04 Apr 2025
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LLCs are specifically unincorporated associations, i.e not corporations.
Thank you. This sent me on a rabbit hole of differences between LLC and Corporations. LLC being a pass through protects the owners a little bit but passes through all the tax and some of the liability (hence Limited Liability). I remember reading something about how banks got significantly more risky with investments and predatorily with their practices when they started moving from partnerships to corporate structures.
Maybe we should get rid of corporations and force all companies into a partnership or LLC structure. Less to hide behind.