Search results
A limited liability partnership (LLP) is an alternative business structure structure where two or more persons come as partners to form a distinct business entity.
- What Are The Advantages of A Limited Liability Partnership?
- What Are The Requirements For An LLP in New York?
- What Paperwork Do I Need to Form A LLP?
- What Benefits Does New York Give to A LLP?
- What Disadvantages Are There For New York LLPs?
- Can An LLP Sue Its Individual Partners?
- Do I Need The Help of A Lawyer For My LLP Issue?
Limited liability partnerships give the partners numerous advantages, including: 1. Limited legal liability; 2. Flexible roles for the partners; 3. Easy setup under the laws of New York; 4. Pass-through income taxation. Limited legal liability is one of the biggest advantages of LLPs. The flexible management roles that the partners may play are als...
The requirements to form an LLP in New York include the following: 1. Certification of Registration:The partners are required to file a Certification of Registration with the New York Department of State and pay a filing fee to form a New York Limited Liability Partnership; 2. Naming the LLP: The partners are also required to name the LLP and ensur...
The forms required to start a company as a limited partnership can be found on the New York Department of State website. The Certificate of Registration and the processing fee can be filed with the Department of State, Division of Corporations. The complete list of professionals who are able to form LLPs can be found at this website of the New York...
As noted above, there are several reasons why a group of professionals may want to structure their business operation as an LLP, such as: 1. Limited Liability:Similar to a corporation, an LLP protects the personal assets of its limited partners from the debts and legal liabilities of the business; 2. Pass-through Taxation: An LLP is taxed as a pass...
While limited liability, as well as the ability to avoid double taxation that is associated with the corporation, may seem attractive, there are a few drawbacks to structuring a company as an LLP, including: 1. Filing and Fees: Unlike a general partnership or sole proprietorship, formation of an LLP does require filing a form and paying a filing fe...
It is possible that an LLP may have cause to sue one of its individual limited partners. For example, a limited partner might misappropriate partnership funds or other property of the partnership. If this is the case, the LLP might have reason to sue the partner. And it could do so. If you have any questions about an LLP, PLLC, or LLC in New York, ...
If you are looking to structure a business, possibly as a limited partnership, it is essential to consult with a New York corporate lawyer. Your lawyer can help you fulfill all of the legal requirements for running your business and representing you in court if a dispute arises. Your lawyer can help you complete and file all of the required paperwo...
Mar 19, 2024 · A limited liability company (LLC) is an unincorporated organization, with one or more members, each having limited liability for the contractual obligations and other liabilities of the company, other than a partnership or trust, that is formed for any lawful business purpose under the Limited Liability Company Law of New York State or under the...
People also ask
How does an LLP work in New York?
Who needs an LLP in New York?
What is a limited liability partnership (LLP)?
Are LLP partners liable for malpractice in New York?
Dec 28, 2023 · A New York professional service limited liability company (PLLC) is a type of LLC. A regular LLC and a PLLC are both registered under the New York Limited Liability Company Law. Both protect your personal assets if your company runs into problems.
- 25 Broadway, 10th Floor, New York, 10004, NY
- USD
- (929) 376-8888
- james.hsui@jameshsuilaw.com
- If you do it yourself, forming a professional limited liability company in New York will cost a minimum of $270. This excludes expedited handling f...
- No. A lawyer isn’t needed to form a Professional LLC. However, setting up a PLLC is complicated, and an experienced business formation lawyer can h...
- No. NYSED will not approve the conversion of an LLC into a PLLC. The closest you can get to a conversion is to go through the complex process of a...
- Yes. The most basic business form is the “sole proprietorship.” This is where you simply hang a sign on your door and say you’re open for business....
- Yes, with exceptions. NYSED allows PLLCs to practice multiple professions, so long as at least one owner of the PLLC is licensed in each of the pro...
Katten expanded its New York presence in 2002 when it merged with Rosenman & Colin LLP, a distinguished New York-based firm with a nearly century-long reputation for providing the highest-quality legal work and client service.
Sep 30, 2017 · New York - Akerman LLP. +1 212 880 8965. Get Directions. Timely Topics and Events. Seminars and Conferences. Akerman Hosts Annual CREW New York Leading Ladies Speaker Series – June Session. June 13, 2024. Speaking Engagements. Jeremy Williams to Speak on What Insurers Need to Know About PFAS. June 12, 2024. Seminars and Conferences.
Ten Foley & Lardner LLP attorneys and four firm jurisdictions have been recognized in the 2024 edition of the World Trademark Review 1000: The World’s Leading Trademark Practitioners. Foley’s New York office is home to lawyers offering sophisticated legal services to a broad range local, national and international clients. Learn more here.
