A corporation can be owned by one person, or by many people. A limited liability company is essentially a hybrid between a general Partnership and a corporation. The owners of the LLC are referred to as members instead of partners or stockholders. A Certificate of Formation is filed with the Secretary of State just as for a corporation. No formal documents required.
Owner is personally liable for all debts and tort claims.
No formal documents required. But a written partnership agreement is recommended. All partners are personally liable equally for all debts and tort claims. A written partnership agreement is required. File with Secretary of State.