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Limited Liability Company & Partnerships Answer Book

Limited Liability Company & Partnerships Answer Book

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For most companies, doing business as a limited liability company or partnership offers significant benefits. Limited Liability Company & Partnership Answer Book's easy-to-read Q&A format makes clear and accessible both the legal rules and important business decisions regarding LLCs. With more than 300 authoritative answers, you'll understand how to:

* Custom design an LLC or LLP that provides liability protection to principals and agents-and one-time taxation of revenue
* Weigh the pros and cons of converting your business to a LLC or LLP
* Capitalize on the operational, tactical, and strategic advantages of converting to a LLC or LLP
* Ensure compliance with the IRS and avoid "double taxation" of revenues
* Set up accurate and efficient tax and accounting systems.

Plus, this practical handbook contains a state-by-state listing of statutory provisions regarding structure and organization; registration procedures and filing fees; a comparison chart of the LLC, LLP, regular and S corporation, limited partnership, and general partnership; and model operating agreements.