When looking into how to form an LLP, you will need a comprehensive guide on the process, as well as all the tools you’ll need when filing for the application. Here, you will find all of that, readily available for you to get started.
How to Form an LLP
So, you’re looking into how to form an LLP. That’s great! Starting your own company is always an exciting venture. However, there is going to be some paperwork involved throughout the process. That’s to be expected, of course, but not necessarily fun. Here, though, we have everything you might need for the application. Here’s a brief guide on the process to form an LLP with a few pointers on what you’ll need to keep in mind at all points in the application.
What’s an LLP?
A limited liability partnership, also known as an LLP, is a partnership in which some or all partners (this will ultimately depend on the jurisdiction) have limited liabilities. Therefore, it can exhibit elements of partnerships and corporations. In an LLP, each partner will not be responsible or liable for another partner’s misconduct or negligence, which means that some or all partners have a form of limited liability similar to that of the shareholders of a corporation. Unlike corporate shareholders, the partners in an LLP have the power to manage the business directly. In contrast, corporate shareholders have to, by law, elect a board of directors under the regulations of respective state charters. Additionally, an LLP also contains a different level of tax liability from that of a corporation.
Applying For an LLP
Now, if you need to apply for an LLP status for your organization, then you’re going to need to submit the corresponding forms to your state’s Department of State. Now, you can certainly do this directly, but that can actually prove to be somewhat inconvenient, as all bureaucratic processes tend to be. We at the Corporate Center can make this all much easier for you, since we can take care of the processing without you having to deal with the Secretary of State directly. Just head over to the sidebar and find your state on the list. There, you will find the option for limited partnerships and, therein, the ones for an LLP. How to form an LLP? Everything you need is right here on our site.
Submit Your LLP Forms
Here at the Corporation Center, we want you to have easy access to every form you might need when putting together your application to form a corporation. Because of this, we provide you with the forms for company submissions from all fifty states in the country, as well as a secure platform through which to fill them out and safely submit them. Our document processing service is here for whatever it is you might need, so be sure to reach out to us should you have any questions. We are available via the contact information on our page to resolve your doubts. Your corporation will be up and running as soon as possible.