Limited Liability Company and Partnership Answer Book, 2nd Edition

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9780735516779: Limited Liability Company and Partnership Answer Book, 2nd Edition

For most companies, doing business as a limited liability company or partnership offers significant benefits. Limited Liability Company & Partnership Answer Books easy-to-read Q&A format makes clear and accessible both the legal rules and important business decisions regarding LLCs and LLPs.

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 an LLC or LLP
  • Capitalize on the operational, tactical, and strategic advantages of converting to an LLC or LLP
  • Ensure compliance with the IRS and avoid "double taxation" of revenues
  • Set up accurate and efficient tax and accounting systems
  • Use a family limited partnership or LLC in business succession planning

    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.

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