Form A Limited Partnership Today
It can be difficult to capture the benefits of a limited partnership. Let us help you.
Forming Your Limited Partnership With Anderson
When implemented and operated correctly, a limited partnership (LP) can be a highly effective asset protection tool. When structured correctly, an LP can provide the perfect balance of control and liability between partners. Would you ever get into a situation with business partners where all partners have equal control, and all partners are responsible for each other’s liabilities? In a limited partnership, the general partner has all of the control and all of the liability. Many of our clients who invest in the stock market use a combination of an LP and a corporation to control their trading assets and protect their brokerage account. Let our advisors show you how forming a corporation to act as the general partner for your LP can provide numerous advantages for you and your business.
Experience You Can Trust
Our business and tax planning experts work with people just like you every day. Whether you are a real estate investor, small business owner, stock market investor, or you work in a more specialized area private lending, our advisors understand your individual needs and can help you reach your goals.
“…They have taken the time to determine and tailor a plan to best protect me. Anderson Business Advisors are a must for your power team.”Carlton L.
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What You Can Expect When Forming a Limited Partnership with Anderson
Every client receives a private business structuring Strategy Session with an experienced advisor. Once you and your advisor decide that a limited partnership is right for you, we ask that you complete a questionnaire to provide us with a little information. What would you like to name your LP? Who will be acting as the general partner(s) and limited partner(s)? Your advisor answers most of the “tough questions,” such as what state to file in.
We then prepare your certificate of limited partnership and submit them to the state. After it has filed, we obtain your EIN from the IRS. Once we have the filed articles and an EIN, we will draft your documents to suit your specific needs and business type. Your partnership agreement, supplemental documents, and your filed articles will be sent you to in a binder to keep you organized and ensure you have everything you will need.
An advisor will follow up with you once you have received and reviewed your documents. They will answer any questions you have and ensure you take all the necessary next steps, such as setting up a bank account.
With your Platinum Membership, you have unlimited access to our advisors to answer any questions that arise while running your corporation.
Anderson Advisors FAQ
What is an (LLP) or Limited Liability Partnership?
A limited liability partnership (LLP) is basically a general partnership, but with the addition of giving the partners at least some limited personal liability. There is only one class of partner (general partners).
Advantage of an LLP?
The main advantage of an LLP is that all partners are protected by some form of liability protection, but this also means each partner gets a say in how the business is ran.
How many owners must an LLP have?
The LLP needs to have at least two or more owners because it is a partnership.
Your Custom Entity Blueprint
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