Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : IRS, Tax related strategies--Traders -- Ignore unavailable to you. Want to Upgrade?

To: Don Roberts who wrote (293)	5/8/1998 2:23:00 AM
From: Colin Cody	Read Replies (1) \| Respond to of 1383

Don, All you say about the Nevada LLP makes sense to me now! But I do wonder about the validity of the claim of "Limited Liability" for a "General Partner". I would think, by definition, a GENERAL partner, just like an INDIVIDUAL, has UNLIMITED liability. After all THAT'S THE WHOLE IDEA. Although in your case you wont be having a General partner, I don't suppose, so it's a moot point. Why do you choose to use a (relatively) expensive LLP (or S-Corp for that matter), rather than a simple and less costly General Partnership? Surely you aren't looking for the limited liability, like maybe in case one of your partners drops a heavy bag of CASH on someone's foot while standing in line at the bank? (g) Just wondering why the Clubs recommend going the LLP / S-Corp route. Colin