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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 PAh67TlCOt58Nksy1Rq0SmgCrri8K0M1XaDWPQwuBXCJ7Xp7uNoXPC91kpk27LMe
 03x5U9xW8g3ECYed2NTrGw==

<SEC-DOCUMENT>0001209191-07-034522.txt : 20070601
<SEC-HEADER>0001209191-07-034522.hdr.sgml : 20070601
<ACCEPTANCE-DATETIME>20070601144932
ACCESSION NUMBER:		0001209191-07-034522
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20070531
FILED AS OF DATE:		20070601
DATE AS OF CHANGE:		20070601

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HIGHLAND FLOATING RATE LTD LIABILITY CO
		CENTRAL INDEX KEY:			0001068201
		IRS NUMBER:				364251184
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	BUSINESS ADDRESS:	
		STREET 1:		TWO GALLERIA TOWER
		STREET 2:		13455 NOEL ROAD, SUITE 1300
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75240
		BUSINESS PHONE:		9726284100

	MAIL ADDRESS:	
		STREET 1:		TWO GALLERIA TOWER
		STREET 2:		13455 NOEL ROAD, SUITE 1300
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75240

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COLUMBIA FLOATING RATE LIMITED LIABILITY CO
		DATE OF NAME CHANGE:	20031107

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	STEIN ROE FLOATING RATE LIMITED LIABILITY CO
		DATE OF NAME CHANGE:	19980929

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			DONDERO JAMES D
		CENTRAL INDEX KEY:			0001228922

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-08957
		FILM NUMBER:		07893897

	BUSINESS ADDRESS:	
		STREET 1:		13455 NOEL ROAD
		STREET 2:		SUITE 1300
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75240
		BUSINESS PHONE:		9726284100

	MAIL ADDRESS:	
		STREET 1:		13455 NOEL ROAD, STE 1300
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75240
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc4.xml
<DESCRIPTION>FORM 4 SUBMISSION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2007-05-31</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001068201</issuerCik>
        <issuerName>HIGHLAND FLOATING RATE LTD LIABILITY CO</issuerName>
        <issuerTradingSymbol>N/A</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001228922</rptOwnerCik>
            <rptOwnerName>DONDERO JAMES D</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>13455 NOEL ROAD, STE 1300</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>DALLAS</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75240</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <otherText>Affiliate-Investment Advisor</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2007-05-31</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>638.858</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>10.14</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5883.708</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Shares purchased by the Highland 401(k) Plan (the &quot;401(k) Plan&quot;).</footnote>
        <footnote id="F2">Shares owned by the 401(k) Plan. Highland Capital Management, LP (&quot;HCMLP&quot;) is the investment advisor for Highland Floating Rate Limited Liability Company. HCMLP maintains the 401(k) Plan for the benefit of its employees. Mr. Dondero is the President of HCMLP and the trustee of the 401(k) Plan, as well as a participant in the 401(k) Plan. Mr. Dondero expressly disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>/s/ James Dondero</signatureName>
        <signatureDate>2007-06-01</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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