QUESTION
I am a veteran starting a small business (75k) and want to know which to form, LLC or LLP.
Asked on Aug 07th, 2012 on Business Law - Massachusetts
More details to this question:
The investor is a close relative and will not be involved in any operations of the business. I want to protect them from any liability and possible taxes. Thank you for your time.
1 ANSWER
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If the only members of the entity will be a working partner and a "silent" (money) partner, then the LLC is generally the preferred entity.
Answered on Aug 07th, 2012 at 7:01 PM