29366cf9_ess_Structure__Ownership_Type__ation_Structure_Considerations_2
[0] Limited Liability Partnership (LLP) [1] Yes [3] Partners are not typically liable for the debt of the LLP [4] Some formal requirements, but less formal than corporations [5] All partners have the right to manage the business directly [6] Files taxes as a separate entity, must meet certain criteria to avoid being taxed as a corporation Federal Taxation [7] Taxes based on business entity income. General Partners have unlimited liability. Limited partners may have liability up to the amount of their investment [2] 
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Access Washington - Determine Your Business Structure (Ownership Type)
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