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The Limited Liability Company (LLC) is a comparatively new form of business entity, which started in Wyoming in 1977. The directors may be granted a degree of discretion by the articles of association of the hybrid company as to what to do with the rights that, in a non-public company limited by shares, would routinely be vested in the arms of the shareholders. If the directors have discretion over voting rights, economic rights, the ownership and pleasure of property and the entitlement to property, then solutions may be created to a wide range of tax planning problems.\n\nUse a Source Where …