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The majority of financing for the acquisition of land for development is most likely to come from pooled equity of a limited liability corporation (LLC).
What is limited liability corporation(LLC)?
State legislation allows limited liability firms, and each state has its own set of rules controlling them. Members of an LLC are its owners.
Many jurisdictions don't impose ownership restrictions, so anyone—including people, businesses, people from other countries, foreign companies, and even other LLCs—can join. However, some organizations—including banks and insurance companies—cannot incorporate LLCs.
A formal business arrangement known as an LLC has to submit articles of formation with the state. An LLC offers greater flexibility and security for its investors than a corporation and is simpler to set up.
LLCs have the option to forgo paying federal taxes up front. Instead, the owners' personal tax returns are where their earnings and losses are declared.
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