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Learn the difference between an LLC and a Partnership
What is an LLC?
What is a Partnership?
What’s the difference between an LLC and a Partnership?
An LLC is a type of partnership
How do taxes vary between LLCs and Partnerships?
Main difference between Partnership & LLC
Can creditors go after assets in an LLC or Partnership?
Why LLCs are better for businesses
Does anyone need a partnership?
When two or more people are in business together it is called a partnership
A partner acting alone in the name of the business binds the other partners
Tax is paid on the partner's total income
All partners have unlimited liability for any debts incurred by the business
Partners must share the profit
All partners are responsible for the actions of any other partners
If a partner leaves the business