What are the Advantages of LLP?
Limiited Libility Partnership is not considered to be a separate entity for the purposes of income tax — any profits and losses of an LLP are passed through to the partners this avoids double taxation.
A partner in a Limited Liability Partnership is only personally liable for his or her own negligence or that of an employee working under the partner’s direct supervision.
A partner isn’t personally liable for the negligence of anyone else in the firm. However, the partner can not negate liability for a large …