Limited partnership-limited liability partnership

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Reference no: EM13311126

In which of the following ways, if any, is a Limited Partnership (LP) different from a Limited Liability Partnership (LLP)?

A. LLP's can be formed with only a single member, whereas LP's require two or more persons.

B. Property can be titled in the name of an LLP but not an LP.

C. Income from an LP is always taxed as individual income to the partners, while income for an LLP is always taxed like a corporation.

D. An LP requires at least one general partner, whereas an LLP does not require any. E. None of the above distinguish an LLP from an LLP.

Reference no: EM13311126

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