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What is the difference between LLC and LLP?

April 26, 2017difference Finance financial Jargon LLC LLP

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What is the difference between LLC and LLP?

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The LLC is a limited liability company and the LLP is a limited liability partnership. You can go on your secretary of states website and it will tell you, in detail, the differences between the two. Usually it is the difference in the way they are taxed, but not always.