llp vs llc taxes

llp vs llc taxes refers to the differences in taxation between a Limited Liability Partnership (LLP) and a Limited Liability Company (LLC). Both LLPs and LLCs provide liability protection for their owners, but they differ in their tax structures. LLCs typically offer more flexibility with taxation options, allowing them to be taxed as sole proprietorships, partnerships, or corporations, while LLPs are generally taxed as partnerships.