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  1. LegalZoom
    https://www.legalzoom.com/articles/llc-or-lp-whats-best-for-your-business

    LLC or LP: What's best for your business? - LegalZoom

    • In general, an LLC might be better if one or more of the following apply: 1. You want all owners to enjoy limitation of liability 2. All owners will participate in managing the company 3. You want the option t… See more

    Taxation Differences

    The Internal Revenue Service (IRS) treats both LLCs and LPs the same for tax purposes upon … See more

    LegalZoom
    Organizational Differences

    There are differences in how LLCs and LPs are structured and created. It should be noted that a member of an LLC, as well as a partner in an LP, may be an individual person, a c… See more

    LegalZoom
    Limitation of Liability

    If a business is organized as a general partnership, all of the partners can be held personally liable for the business's debts. This means that a partner is risking more than what t… See more

    LegalZoom
    LLC vs. Partnership (GP, LP, and LLP) | Wolters Kluwer
    Wolters Kluwer
    LP vs. LLP | Limited Partnerships & Limited Liability ... - Nolo
    Nolo
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    Table of Contents
    Taxation Differences
    Organizational Differences
    Limitation of Liability
     

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  2. LLC, LLP, and LP are three different types of business entities that have different management requirements, liability protections, liability insurance obligations, and tax benefits123. An LLC is managed by members and offers tax flexibility and operational efficiency23. An LLP is divided into general partners and limited partners, and combines the advantages of an LLC with a limited partnership23. An LP is also divided into general partners and limited partners, but the limited partners are silent partners who have no management role3.
    Learn more:
    Both limited liability companies (LLCs) and limited liability partnerships (LLPs) combine aspects of corporations and partnerships. Differences between the two business structures include management requirements, liability protections, liability insurance obligations, and tax benefits.

    Difference between LLC and LLP | Legal…

    www.legalzoom.com/articles/difference-between-ll…
    The difference between a limited partnership and an LLC is the type of organization and liability protection. While LLCs are managed by members, LPs are divided into general partners and limited partners. In terms of liability, assets of LP partners could be at risk upon creditor disputes, whereas LLC members’ assets are secured.

    Limited Partnership vs LLC: Differences …

    standwithmainstreet.com/limited-partnership-vs-llc/
    An LLC vs LLP vs LP compares three different type of entities with individual business structures. An LLC offers tax flexibility and operational efficiency. An LLP combines the advantages of an LLC with a limited partnership. An LP is best known as a business having silent partners.

    LLC vs LLP vs LP: Everything You Nee…

    www.upcounsel.com/llc-vs-llp-vs-lp
     
  3. People also ask
    What is the difference between LLC and LP?
    Delaware Limited Partnerships (LP) and Limited Liability Companies (LLC) may seem similar to new business owners due to their flexibility and pass through tax treatment. However, understanding the differences between LLCs and LPs in structure, personal liability, and reputation is important when choosing the best entity for your new business.

    LLC vs LP: What’s the Difference? | Harvard Business Services, Inc

    delawareinc.com
    What is the difference between an LLP and a limited liability company?
    A Limited Liability Partnership (LLP) and a limited liability company (L.L.C. or LLC) differ in their legal liabilities and business obligations and have some pros and cons when compared to other business organization structures like corporations, partnerships, and limited partnerships.

    LLC vs LLP - Difference and Comparison | Diffen

    diffen.com
    What is the difference between a limited partnership and an LLC?
    Perhaps the most important difference between a limited partnership and an LLC relates to the personal liability of the participants. A limited partnership is managed by one or more general partners who control the day-to-day operations of the business.

    LLC vs LP: What’s the Difference? | Harvard Business Services, Inc

    delawareinc.com
    What is the difference between LP and limited partnership?
    An LP business entity must be composed of at least 1-2 general partners responsible for management decisions. On the other hand, a limited partner in an LP company doesn’t have many partnership obligations except for their return on the investment. Pros and Cons of Forming Limited Partnership

    Limited Partnership vs LLC: Differences To Know [2022]

    standwithmainstreet.com
    What is the difference between an LP and a corporation?
    An LP is a partnership that involves two or more people with differing degrees of personal liability. A corporation has shareholders rather than partners, and they all have the same type of personal asset protection. Corporations are also taxed differently than limited partnerships.

    Difference Between an LP and LLC | ZenBusiness Inc

    zenbusiness.com
    What is an LLP in business?
    LLP defined What is an LLP? An LLP is a general partnership formed by two or more owners (called partners). Similar to an LLC, an LLP is a cross between a corporation and a partnership, with the partners enjoying some limited personal liability. Professional businesses are commonly organized as an LLP.

    Difference Between LLC and LLP - LegalZoom

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  4. Harvard Business Services, Inc.
    https://www.delawareinc.com/llc/llc-vs-limited-partnership

    LLC vs LP: What's the Difference? - DelawareInc

     
  5. SmartAsset
    https://smartasset.com/small-business/llc-vs-lp

    Limited Liability Company (LLC) vs. Limited Partnership (LP)

  6. Forbes
    https://www.forbes.com/advisor/busine…

    LLC Vs. LLP: Key Differences Between The Two …

    May 30, 2024 · Limited liability companies (LLCs) and limited liability partnerships (LLPs) are two common legal classifications for small businesses. While the two sound very similar, there are crucial...

  7. Wolters Kluwer
    https://www.wolterskluwer.com/en/expert-insights/llc-vs-partnership

    LLC vs. Partnership (GP, LP, and LLP) | Wolters Kluwer

  9. Investopedia
    https://www.investopedia.com/terms/l/limitedpartnership.asp

    Limited Partnership (LP): What It Is, Pros and Cons, How to ...

  10. UpCounsel
    https://www.upcounsel.com/llc-vs-llp-vs-lp

    LLC vs LLP vs LP: Everything You Need to Know - UpCounsel

  11. ZenBusiness
    https://www.zenbusiness.com/limited-p…

    Difference Between an LP and LLC | ZenBusiness Inc.

    The first difference between an LP and LLC is that an LP has two different types of partners with different degrees of liability. In an LLP, all members of an LLP share the same degree of liability protection and are responsible for liability …

  12. Nolo
    https://www.nolo.com/legal-encyclopedia/limited...

    LP vs. LLP | Limited Partnerships & Limited Liability ... - Nolo

  13. CNN
    https://www.cnn.com/cnn-underscored/money/llp-vs-llc

    LLP vs. LLC: Differences, pros and cons - CNN

  14. Nolo
    https://www.nolo.com/legal-encyclopedia/llc-vs-llp...

    LLC vs. LLP: What Is the Difference? - Nolo

  15. llcstars.com
    https://llcstars.com/llc-vs-lp

    LLC vs LP

  16. Stand With Main Street
    https://standwithmainstreet.com/limited-partnership-vs-llc

    Limited Partnership vs LLC: Differences To Know [2024]

  17. Diffen
    https://www.diffen.com/difference/LLC_vs_LLP

    LLC vs LLP - Difference and Comparison | Diffen

  18. Small Business - Chron.com
    https://smallbusiness.chron.com/main-difference-llc-lp-22354.html

    What Is the Main Difference in LLC & LP? - Chron.com

  19. MarketWatch
    https://www.marketwatch.com/guides/business/llp-vs-llc

    LLP vs. LLC: What’s the Difference? - MarketWatch

  20. SimplifyLLC
    https://www.simplifyllc.com/llc-glossary/llc-vs-llp

    LLC vs Limited Liability Partnership (LLP): How to Choose

  21. Anderson Business Advisors
    https://andersonadvisors.com/blog/llp-vs-llc

    LLP vs LLC: What’s the Difference? - Anderson Business Advisors

  22. LegalZoom
    https://www.legalzoom.com/articles/difference-between-llc-and-llp

    Difference between LLC and LLP - LegalZoom

  23. USA Today
    https://www.usatoday.com/.../llp-vs-llc

    LLP vs. LLC: Which is best for your business? - USA TODAY

  24. Osome
    https://osome.com/sg/guides/llp-vs-pte-ltd

    LLP vs Pte Ltd: The Ultimate Guide to Choosing the Structure