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What are the basic differences between a limited liability company and a joint stock company?
How do these companies differ in terms of taxation?
In the United States, both limited liability companies and joint stock companies are treated as pass-through entities for tax purposes. This means that the profits and losses of the company are passed through to the owners and shareholders, who report them on their personal tax returns. However, joint stock companies may be subject to additional taxes depending on the state they are located in.