Before a small business opens its doors, many business owners face an important decision: Will they structure their business as a limited liability corporation (LLC) or a limited liability partnership ...
An LLP (limited liability partnership) is essentially a general partnership, but it offers limited liability for one or multiple partners. About 40 US states allow the formation of LLPs, and the laws ...
IT HAS BEEN MORE THAN A DECADE since the AICPA amended Rule 505, Form of Organization and Name, of its Code of Professional Conduct’s Rules of Practice to permit the practice of accountancy in LLCs ...
LLC managers owe fiduciary duties both to the LLC and to the LLC’s members, similar to the duties owed by a partner to other partners in a partnership. (Corp Code §17704.09.) These include the duty of ...
A close friend and myself want to open an IT consulting practice providing IT support, systems administration services, security, and other services to small businesses. Initially I thought an LLP ...
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