Is one better than the other?
That depends on what type of arrangement is needed. Partnerships are made up of two or more persons, and could be a general or limited partnership, and is subject to RUPA or RLPA statutes, among other details. LLCs are made up of one or more persons, and may be member-managed or have managers, and follows the revised LLC Act, among other details. This white paper reviews what an FLP is, what an LLC is, offers a comparison of the differing features including accounting methods and tax issues.
You can Login to access if you are already registered.
Thank You!
Download White PaperMore Program Information
