Definition of a Limited Liability Partnership?

Answer The way a company is formed depends on several factors, such as the size of the staff, the scope of its business, and the financial organization needed to handle expenditures, gains and taxation. T... Read More »

Top Q&A For: Definition of a Limited Liability Partnership

What is the difference between a limited liability corporation&a limited liability partnership?

A limited liability partnership (LLP) and a limited liability company (LLC) contain elements of a general partnership combined with liability protection for the business owners. In states like Cali... Read More »

Concept of Limited Liability Partnership?

The limited liability partnership (LLP) is a new, hybrid type of business entity available to business owners in the United States and United Kingdom. The LLP concept is based on two separate entit... Read More »

Is a limited liability company a partnership?

A limited liability company (LLC) can be a partnership, but it can also be a corporation or sole proprietorship. The Internal Revenue Service does not recognize LLCs for federal tax return purposes... Read More »

What are the advantages of a limited liability partnership?

In the world of professionals, be it legal, medical or otherwise, many want to know they are protected, even if one of their partners makes a costly mistake. That's where the limited liability part... Read More »