Louis Harrison News Post

Finding The Pot Of Gold At The End Of The Family Limited Partnership Rainbow

Journal of Passthrough Entities

One of the least discussed and reasoned decisions in entity planning for discount purposes is whether to use a limited liability company (LLC) format or that of the family limited partnership (FLP). On the surface, as an LLC is taxed as a partnership under the Internal Revenue Code,1 practitioners often conclude that there should be no difference.

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