it was founded by lionel luthor and run primarily by the luthor family. luthor corp was founded by lionel luthor in metropolis.  in october 2016, following lex’s incarceration, his half-sister, lena luthor, took over luthor corp and moved its base of operations to national city. lena held an unveiling of l-corp to the press, which was attacked by john corben.
lena presented a beta version of the device to kara danvers during an interview with catco worldwide media since the prototype was still being developed by l-corp’s r&d.  after lena’s purchase of catco worldwide media, she hired samantha arias as the acting ceo of l-corp while the former became familiar with the media conglomerate. morgan edge attempted to undermine the deal by filing an anti-trust lawsuit with the federal trade commission, but samantha was able to prevent this.  over summer 2018, l-corp sold many image inducers to extraterrestrials under lena’s direction, in part due to the anti-alien sentiment sweeping through the nation.  in the 25th century, l-corp developed a cure for lead poisoning, allowing individuals such as the daxamite mon-el to live freely on earth despite a natural toxicity to lead.
limited liability companies are hybrid entities that combine the characteristics of a corporation with those of a partnership or sole proprietorship. while the limited liability feature is similar to that of a corporation, the availability of flow-through taxation to the members of an llc is a feature of partnerships (and not an llc). limited liability companies (llcs) are a business structure that is allowed under state statutes. some entities, though, cannot form llcs, including banks and insurance companies. an llc is a more formal partnership arrangement that requires articles of organization to be filed with the state. an llc is much easier to set up than a corporation and provides more flexibility and protection. instead, profits and losses are listed on the personal tax returns of the owner(s). or, the llc may choose a different classification, such as a corporation. if fraud is detected or if a company hasn’t met legal and reporting requirements, creditors may be able to go after the members. the very first thing owners or members must do is to choose a name. once that’s done, the articles of organization must be documented and filed with the state.
other information included on the documents includes the name and addresses of the llc’s members, the name of the llc’s registered agent, and the business’ statement of purpose. the articles of organization must be accompanied by a fee paid directly to the state. many view an llc as a blend of a partnership, which is a simple business formation of two or more owners under an agreement, and a corporation, which has certain liability protections. depending on state law, an llc may have to be dissolved upon the death or bankruptcy of a member. this is in contrast to a corporation, which can exist in perpetuity. the primary difference between a partnership and an llc is that an llc separates the business assets of the company from the personal assets of the owners, insulating the owners from the llc’s debts and liabilities. an llc can function in the same way a partnership does, in that the company’s profits pass through to the tax returns of the owners. losses can be used to offset other income but only up to the amount invested. (otherwise, if members have elected to be treated as a corporation, then form 1120 is filed). in the event of a sale or transfer of the business, a business continuation agreement is the only way to ensure the smooth transfer of interests when one of the owners leaves or dies.
l-corp, formerly known as luthor corp, is a company located in national city, formerly located in metropolis. it was a limited liability company is a corporate structure in the united states wherein the company members a limited liability company (llc) is the us-specific form of a private mccray, richard a.; thomas, ward l. “limited liability companies as exempt organizations” (pdf). internal revenue service., llc meaning business, llc meaning business, limited company examples, llc means, axis corporate login.
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