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It's important to remember that Canada and the United States have different legal systems, which also means that the **LLC meaning** and legal structures also differ. In the U.S., an LLC is a very common business structure. It combines the liability protection of a corporation with the flexibility and pass-through taxation of a partnership. But, as we mentioned earlier, Canada doesn't have the exact same structure. Instead, Canadian businesses often choose to incorporate or form a limited partnership. Let's break down the differences and similarities.
