The Bisexuals of the Business Organization world. LLCs go both ways. Can be like a Partnership or a Corporation, with respect to governance and taxes.
Greedy Business Man #1: Dude this double taxation is killing me

Greedy Business Man #2: Bro, not us we are an Limited Liability Company, we tax the profits right to the shareholders income. However are liability is still limited, if the company screws up we are not on the hook to lose our Ferraris and Summer homes

Greedy Business Man #1: Sounds like LLCs go both ways, I should get me one of those.
de Bored_Lawstudent 12 janvier 2011

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