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Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 2855
Experience:  18+ years of experience in tax preparation; 25+ years of experience as a real estate/corporate paralegal.
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When forming a Florida LLLP between 2 individuals, to then

Customer Question

when forming a Florida LLLP between 2 individuals, to then partner in a business with a third individual by way of a LLC, is there any tax advantage to the LLLP first creating a LLC(b) to partner with the individual in LLC(a)?
A) 2i = LLLP → LLC w/ 3rd
or
B) 2i = LLLP = LLLC → LLC w/ 3rd
Thanks
Submitted: 1 year ago.
Category: Tax
Expert:  Barbara replied 1 year ago.

Welcome to Just Answer. My name is ***** ***** I will be happy to assist you today.

LLLP and LLC entities receive the same tax treatment. By the LLLP forming an LLC to partner with a third individual for another venture will result in added expense, paperwork and government filings.

The following links contain excellent information which you will find helpful:

http://beginnersinvest.about.com/od/holdingmethods/a/Understanding-The-Limited-Liability-Limited-Partnership-LLLP.htm

http://www.statejournal.com/story/19883884/muddling-through-the-letters-llc-llp-and-pllc

Please let me know if you require further information or clarification.

Thank you and best regards,

Barb

Expert:  Barbara replied 1 year ago.

Just following up with you to see if you have any other questions or concerns. If so, please come back to me here at your convenience, and I will be happy to assist you. If not, please take a moment to rate my answer since that is the only way I receive credit for answering you and alerts Just Answer to compensate me.

Best regards,

Barb

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