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Advantages of an LLC over Limited Partnership

 

 

LLC Advantages over Limited Partnerships

Advantages of LLC's over Limited Partnerships

 

  • Limited partnerships must have at least one general partner that is subject to unlimited liability
  • LLC's are not required to have a general partner.
  • Operating partners can lose the benefit of limited liability.
  • Outside basis and debt share advantage.
  • Disproportionate special allocations to partners.
  • Discharge of debt

 

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LLC Advantages over Limited Partnerships

The LLC has many advantages over forming a limited partnership.  Ask a tax expert for some additional advantages before making a decision.

 
 

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