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About MaxFilings

Wondering what happens after you submit your incorporation order to us? Have questions about using MaxFilings to incorporate your business or form an LLC? Here you'll see basic questions about our system that can help make your experience smooth and hassle-free. FAQ About MaxFilings

Form Your Limited Liability Partnership (LLP)

In some states, only professionals (required to have licenses to do business) are allowed to form a Limited Liability Partnership and, in addition, some states have special insurance requirements. Limited Liability Partnerships are similar to LLC’s. While partners are personally liable for their own negligent or wrongful acts when performing services for the partnership, they are protected by their limited liability from any personal liability for the acts of others as well as the debts and business obligations of the business although in some states this protection is less than the protection they would receive under LLC’s or corporations. Protection of partners’ personal assets is one of the major advantages of an LLP.

Why Form an LLP?

While an LLC or S Corporation is likely a better choice, some businesses previously prohibited from forming those forms of business now select a Limited Liability Partnership to avoid the higher cost of transferring from an existing general partnership to an LLC or S Corporation.

MaxFilings can help you form your LLP.

Some Points to Consider When Forming an LLP

  • Some states allow only professionals who must have licenses to do business to form a Limited Liability Partnership
  • Official documents must be filed with the appropriate state in order to form a limited partnership and state filing fees must be paid
  • Limited Liability Partnerships are similar to LLC’s
  • Partners enjoy limited liability and are not liable for the debts, obligations and liabilities of the partnership although this protection is less is normally enjoyed in LLC’s or corporations
  • Protection of limited the partners’ personal assets is one of the major advantages of a limited partnership
  • Partners are held personally liable for their own negligent or wrongful acts when performing services for the partnership
  • Partners are not liable for the negligent or wrongful acts of others in the partnership
  • There is less paperwork and limited liability partnerships are easier to manage than are corporations
  • Limited liability partnerships are not themselves taxed so partners can enjoy pass through taxation as do other partnerships
  • Losses can sometimes be used to shelter partners’ other income

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MaxFilings.com Business Incorporation is a service company and does not provide legal or financial advice.
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DISCLAIMER: The information provided in this site is for general information purposes only and not legal advice.
MaxFilings is not a law firm, does not offer legal advice and is not a substitute for a law firm or an attorney.
Your use of this site is at your own risk and is subject to the terms and conditions in our  full disclaimer.

MaxFilingsMaxFilings is an online incorporation service that lets you incorporate or form an LLC in just 10 minutes, or start organizing your information until you are ready. There is no charge to store incorporation information in the secure MaxFilings system, and there is never any obligation to order.

MaxFilings incorporation fees are very affordable, and an extensive library for researching your choices is available at www.maxfilings.com/incorporation-knowledge-center.

Newly incorporated businesses also have access to online promotional services such as business cards, PR, web sites, and SEO services through partner company SEO Advantage (www.seoadvantage.com) .

Phone: 1-800-704-6563     Email: info@maxfilings.com    Website: www.maxfilings.com

© 2010 MaxFilings.com All Rights Reserved. DISCLAIMER: MaxFilings, Inc. is a service company and does not provide legal or financial advice. The information provided on this site is for general information purposes only and not legal advice. MaxFilings is not a law firm, does not offer legal advice and is not a substitute for a law firm or an attorney. Your use of this site is at your own risk and is subject to the terms and conditions in ourÊfull disclaimer found at: www.maxfilings.com/disclaimer.html