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Llc and Partnership

 Limited Liability Company and Partnership Study Paper

Llc and Collaboration

Jasamine L. Stephens

Financing for Decision Making FIN/419

October 10, 2011

Maria Johnson 

Limited Liability Company and Partnership

Every single business venture commences with a dream and a idea. Commencing a business can be described as decision that needs to be made by initial deciding what kind of entity to establish. There are several elements that need to be made the decision such as will the new business have one or multiple owners. The most typical forms of a company entity are sole proprietorship, partnership, corporation, S organization, limited liability company (LLC), and limited liability relationship (LLP). When creating a business with one owner the most reasonable form will be a limited liability company. This paper can discuss the main benefit of using the limited liability company and limited liability partnership.

”Permitted in most states, the limited liability company provides its owners, like the ones from an S corps, limited liability, and taxation being a partnership. Unlike a H corp, the limited liability company can easily own a lot more than 80% of another organization, and companies, partnerships, or perhaps non-U. H. residents can own limited liability shares” (Gitman, 2009). Limited responsibility companies are popular because, like a corporation, owners have a limited personal legal responsibility for the debts and actions of the company. This is certainly a business that is certainly allowed simply by state statutes. The beauty of a limited liability company is the capability to structure the corporation like a firm, but with the tax benefits of a relationship. The owner of a small liability business is called an associate. There can be just one member, firm, or various other limited liability company shown as a member in a limited liability company. Every state requires companies arranging " Articles of Corporation, ” or possibly a " Qualification of Formation” to officially form a small liability business under a point out statute. In line with the Internal Revenue Service (IRS) the...

Referrals: Gitman, M. J. (2009). Principles of managerial fund (12th male impotence. ). Boston, MA: Pearson Addison Wesley.

Internal Revenue Service. (2011). Retrieved from http://www.IRS.GOV

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