• Foreign Limited Liability Company A foreign limited liability company is one that is formed under the laws of another jurisdiction. Foreign limited liability companies that are "transacting business" in Michigan must first obtain a ... | • Professional Service Limited Liability Company A professional limited liability company, as the name implies, is a company made up of licensed persons who have been legally authorized to provide a professional service. | • Domestic Limited Liability Companies Limited liability companies are formed for the purpose of generating profit, while limiting taxes and liability. Limited liability companies have all the powers granted to a corporation. |
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