Posted by John Merchant on October 14, 2003 at 11:19:53:
LLC is Limited Liability Company, a fairly recent form of legal entity, which is better for use in lots of applications than a regular C or Sub-S Corporation.
LLC is, to my memory, not yet existent by statute in every state, but, like other corps., can be formed in any state where it IS legal, then used to buy/hold any property or asset in any other state.