Limited Liability Companies and Limited Liability Partnerships

Limited liability companies (LLCs) and limited liability partnerships (LLPs) have become transformative options for modern business structuring, offering a powerful combination of liability protection and tax efficiency. These super pass-through entities allow business owners to avoid double taxation typically associated with corporations while preserving the key benefit of limited personal liability. Limited Liability Companies and Limited Liability Partnerships explores why these structures are rapidly replacing traditional Subchapter S and Subchapter C corporations, especially among small to mid-sized businesses, professionals, and joint ventures. The treatise begins with essential guidance on partnership taxation for non-tax attorneys and provides detailed, step-by-step instructions for forming an LLC or LLP. It covers a broad range of critical topics, including ERISA compliance, the IRS’s check-the-box entity classification rules, and estate planning and accounting implications. In addition, it includes extensive references to federal and state statutes, making it a practical resource for legal professionals and business advisors. With far-reaching implications for investors, entrepreneurs, and professionals alike, this guide helps readers understand how to strategically leverage LLCs and LLPs in today’s complex legal and tax environment. This resource offers the insights you need to make informed, forward-thinking decisions.

Updated as needed—no extra charge for updates during your subscription.