Unlimited Liability Corporation (ULC)

Unlimited Liability Corporation (ULC),

What is The Definition of Unlimited Liability Corporation (ULC)?

  1. An unlimited liability company (ULC) is a corporate structure used in Canada that can hold shareholders liable if the company goes bankrupt. Sometimes, former shareholders are also responsible, depending on when they sold their shares. In addition to these losses, the structure of the ULC may be preferable in some respects, due to the tax benefits it provides to the company's shareholders.

    • An unlimited liability company (ULC) is a corporate structure used in three Canadian provinces.
    • The shareholders of Unlimited Liability Company (ULC) are liable for the debts and losses incurred by the company in the event of bankruptcy in return. You benefit from a tax-friendly approach to your profits and capitalist profits.
    • Unlimited Liability Companies (ULCs) are treated as corporations for tax purposes in Canada, but as direct flow corporations for tax purposes in the United States.

Literal Meanings of Unlimited Liability Corporation (ULC)

Unlimited:

Meanings of Unlimited:
  1. Not limited or limited in quantity, quantity or coverage.

Sentences of Unlimited
  1. The range of possible adjustments is unlimited

Synonyms of Unlimited

limitless, measureless, immeasurable, extensive, never-ending, endless, incalculable, immense, inestimable, everlasting, cosmic, unfailing, illimitable, vast, bottomless, unbounded, untold, great, inexhaustible, infinite, boundless

Liability:

Meanings of Liability:
  1. The person or object whose presence or conduct causes embarrassment or harm.

Synonyms of Liability

burden, answerability, encumbrance, accountability, responsibility, handicap, hindrance, legal responsibility, nuisance, inconvenience

Corporation:

Meanings of Corporation:
  1. A company or group of individuals that is authorized to operate as a unit (legally a person) and has such an identity legally.

Sentences of Corporation
  1. Most lenders are large companies and insurance companies.

Synonyms of Corporation

agency, guild, federation, bureau, business, group, operation, firm, syndicate, combine, office, house, multiple, conglomerate, trust, consortium, institution, company, partnership, multinational, concern, organization, chain