LLC As GP Of LP?
What do yall think of this? Setting up an LLC and using that as the general partner of a LP? Can you give me some suggestions...positive or negative? Do you know anyone who is doing this? What do they like/dislike about it? Thanks
I heard this could get you around the franchise taxation that a LLC has. Also, the LLC being the GP will carry the liability, not yourself.
thanks, I will do that.
how about having a C corp as managing partner of the LLC with a 1% ownership. i own the remaing 99%?