LLC, short for Limited Liability Company, is a type of business structure that offers the owners limited personal liability for the debts and actions of the company. LLC formation is a popular choice among entrepreneurs and small business owners, as it provides the advantages of both a partnership and a corporation.

To form an LLC, the owners (known as members) must file Articles of Organization with the state in which the business is being formed. This document typically includes basic information such as the name of the LLC, its purpose, and the names of the members. Some states also require LLCs to have an operating agreement, which outlines how the company will be run, how profits and losses will be shared, and what happens in the event of a dissolution or dispute.