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OLLC (Limited Liability Corporation). You is actually a sole proprietor - the only person in little - as well as having an LLC. The difference here is that your liability (if you get sued) is quite a bit reduced over that of your sole proprietorship. You are required to have a certain business company name. Your income flows through your regular tax provide. You may very well qualify to secure a refund, really. Depending on the type of business you have, this is really a good feature.