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The LLP is a limited Liability partnership, and you would have one general partner at least and then the rest limited partners. This provides limited liability for the limited partners
I would reincorporate as an LLC not an LLP
The advantage to ridding your self of the s corp and starting the llc would be that no longer would you have restrictions on who could be shareholders.
There are restrictions on who can be shareholders of an S corporation and if you side step those you could lose your s status
This would be your primary advantage
If you don't mind that there are restrictions on who can join your business then there's no advantage
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Yes I understand and we do not mind the restrictions . . . can you respond to my question about ridding ourselves of the tax history? Thanks
I don't see a benefit of doing that...it's just a matter of preference
Is there anything else that you may need
No, I am all set.