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Friday, January 15, 2016 11:55:08 AM
there are thousands upon thousands of U.S. companies with "Ltd" in the name
to not know this is just plain silly
"Ltd." is short for limited, or a limited company. This structure is used mostly in European countries and Canada. In a limited company, directors and shareholders have limited liability for the company's debt, as long as the business operates within the law. Its directors pay income tax and the company pays corporation tax on profits. Responsibility for company debt is usually limited to the amount a person has invested in the company. A limited company can be set up in four different ways. In some companies, a shareholder's liability is limited to specific predetermined amounts, drawn up in a memorandum. These businesses are known as "private company limited by guarantee," and shareholders are called guarantors. Charities and social enterprise groups frequently use this structure. In England, limited companies must also have a pay-as-you-earn system established for collecting income tax payments and National Insurance contributions from all employees.
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