Unlimited Liability Corporation (ULC),
What is The Definition of Unlimited Liability Corporation (ULC)?
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)
Meanings of Unlimited:
Not limited or limited in quantity, quantity or coverage.
Sentences of Unlimited
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
Meanings of Liability:
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
Meanings of Corporation:
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
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