Considerations On Partnerships With Limited Liability

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Dealing with the modern practical issues inherent in setting up, running and dissolving a partnership, this text provides the reader with a definitive statement of the law using modern terminology relevant to current business practice. The emergence of limited liability partnerships is the biggest development in this area in a number of years, and this second edition of the specialist practitioner text covers recent advances in the law.

"Designed for entrepreneurs and individuals interested in starting their own business, this book provides an indepth study of how the special characteristics of limited partnerships and limited liability companies may be used to your advantage and to assist you in protecting assets, managing wealth and strategic estate planning to minimize taxes. It features strategic uses of limited liability companies and limited partnerships to hold real estate and other assets, how to easily manage and operate a limited liability company or limited partnership, how to creatively plan for your future and your family's future, and how to follow the rules to keep your assets protected."--Publisher description.

The limited liability partnership (LLP) statutes adopted by the various states vary in the degree of protection provided to innocent partners against vicarious liability. This book examines the difference between state statutes and covers the formation, conversion, operation, tax and liability aspects of LLPs. Complete forms for the formation and conversion of an LLP are included, and examples of tax compliance issues are given. Various authors have given their contributions on the topic, e.g.: "Introduction to limited liability partnerships" by R.W. Wood; 'Comparing LLPs to S corporations and partnerships" by K.K. Wright and R.W. Wood; "Forming the limited liability partnership" by T.C. Tokos; "Tax classification of limited liability partnerships" by C.M. Kingsley; "Converting accounting and law firms to limited liability partnerships: legal, tax, and practical considerations" by G.G. Chacon; "Tax treatment of admittance to and withdrawal from a limited liability partnership" by D.I. Friedman.

Limited Liability Company and Partnership Answer Book

The Law of Limited Liability Partnerships is a comprehensive guide to the law relating to this particular type of corporate vehicle, which combines a degree of protection from personal liability with the traditional flexibility of a partnership. Substantially expanded and updated since the first edition (Limited Liability Partnerships: The New Law), this second edition addresses the issues which practitioners in the UK find are arising, as increasing numbers of businesses and existing partnerships become LLPs. New material includes: the effect of the SORP for accounting by LLPs, issued in May 2002; the application to LLPs of confidentiality orders, permitting the non-disclosure of addresses; a new section on LLPs as collective investment schemes; the implications for LLPs of the new insolvency provisions introduced by Insolvency Act 2000 and the Enterprise Act 2002; and a new chapter on issues of jurisdiction and the position of overseas LLPs carrying on business in England. The book is accompanied by an invaluable CD-ROM containing the Companies Act 1985, Insolvency Act 1986 and the Company Directors Disqualification Act 1986, as modified by the various regulations accompanying the Limited Liability Partnerships 2000. Additional statutory and regulatory material is also included, such as the LLP SORP and EU Insolvency Regulation.