Forming an LLP or LLC: The Right Choice for You

forming an llp

Have you been considering forming an LLP or LLC? Are they both available in your state yet you aren’t sure which option is right for your needs? They both aren’t available in every state at this moment. However, at our site, you can find all of the documentation you may need to form an LLC or LLP in states that do allow them. Below is a brief explainer on the benefits of each as well as the ways we can help. 

Forming an LLC: What to Know 

With an LLC, you don’t need a partner. If so desired, they can only have one member. Compared to LLPs, you’ll tend to get more liability protection as well. LLCs can choose to file their taxes as an “S Corporation,” so that can help with flexibility in taxation as well. In terms of debts, LLCs offer limited liability protection for members. So, that means individual members (such as yourself) won’t have to use personal assets to pay a fine for the most part. You can, of course, file for an LLC through our site. 

Forming an LLP: the Facts 

An LLP, on the other hand, is a “partnership,” as the name implies. That means these involve at least two or more folks. For the most part, the partners are usually in the same profession: lawyers, medical professionals, and so forth. Key to an LLP: the partners are protected from the negligence of the other partners here. In the spirit of “partnership,” each of the partners, should they choose, will have the option to manage the business as well. The partners don’t have to stay in the business forever, either. New partners can come in and older partners can leave. It just depends on the agreement itself. 

The Corporation Documentation You’re Looking for and More 

You can find the documentation you’ll need to form both LLPs as well as LLCs at our site. We make the entire process as easy as possible. Gone are the days when you had to hire an attorney (and their slavish legal fees) simply for them to put together the documentation that you needed. Instead, you can go to our site, pick the state you’d like to form your business entity in, and then fill out the appropriate form. To see all that we offer and how we can help, simply head to our site.