Selection and Formation of Business Entities

Free CPA REG (Taxation & Regulation) lesson in Business Law. 18 min read, ~2,716 words.

GP forms automatically with no filing; joint and several liability; RUPA defaults govern. LP needs a state-filed certificate plus at least one general partner; LPs stay protected only if they stay out of management. LLC needs articles of organization plus an operating agreement; RULLCA gives all members limited liability. C...