USA Limited Liability Partnership Registration $99.99
To register NOW your Limited Liability Partnership, please select your Jurisdiction of registration
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In the USA individuals wishing to operate a business under a partnership, can choose to form three types of partnership: general partnership, limited partnership and limited liability partnership. In a general partnership the partners are responsible for all aspects of the business including the debts of the partnership. In a limited partnership there are two types of partners - general and limited. Each type of partner has different rights and responsibilities. Generally speaking, there is a limit on the liability of a limited partner, while the general partner's liabilities are not limited.
Limited Liability Partnership ("LLP") is a form of general partnership, created under state general partnership laws, in which partners are statutorily relieved of all or part of their personal liability for partnership liabilities, debts and obligations.
LLPs are created by filing an statement of registration with the Secretary of State, Corporations Division. When electing the benefits of LLP status, it is not necessary to create a new partnership or to enter into a new partnership agreement. However, since LLP status likely will affect the partners' shares of partnership losses, as well as partners' rights of indemnification and contribution, partnerships which elect LLP status should review their partnership agreement and make changes necessary to appropriately allocate business risks among the partners. For federal income tax purposes a partnership which elects the protection of a state's LLP law is considered the same entity it was before the election.
FORMATION AND OPERATION OF LIMITED LIABILITY PARTNERSHIPS
a. Filing Requirement. The various state limited liability partnership ("LLP") statutes require that a general partnership file a document in order to qualify as an LLP. This document is variously called a registration, application for registration or certificate of limited liability partnership, and its contents vary from state to state.
b. Filing Fees. LLP filing fees vary from state to state. Most states impose a flat annual registration fee but several, including Delaware, Illinois, Kansas, Pennsylvania and Texas, base the registration fee on the number of LLP partners.
c. Name Requirement. LLPs generally must use a name including the words "limited liability partnership" or "registered limited liability partnership" or the abbreviations "LLP" or "RLLP." The Ohio LLP statute uses the term "registered partnership having limited liability" to describe Ohio LLPs and mandates the use of the abbreviation "P.L.L."
d. Insurance Requirements. Several of the early LLP statutes, including
those in Delaware, Georgia, Pennsylvania, Texas and Virginia,\4 mandated
that an LLP have insurance or an escrow account to cover liabilities as
to which partners do not bear personal liability. More recent statutes
typically do not mandate insurance, but instead leave insurance issues
to the statutes specifically governing professions and occupations.
Registering a Limited Liability Partnership in the USA
The Declaration of Registration of Limited Liability Partnership must contain the following information:
* Type of Business
* City, Town, Village where the business is located
* Trade/ Business Name under which the Declaration carries on or intends
to carry on business
* Date on which the use of the business name commenced
* The name, resident address, occupation and identification of all partners.
The resident address must include the city, town or village and zip code.
The process of register your Limited Liability Partnership in the USA, has three main elements:
* First is the Name Search. A State Business Name Search Report should
be obtained. This is a search through the Corporations Division Office
records that will determine whether another business is using the name
you have selected and where that business is located.
* Second Registration of your Declaration of limited liability partnership
is completed with the Corporations Division Office.
* The third element is the fee to register your Declaration of registration
of limited liability partnership and expedition of your Business License.