Illinois Partnerships Explained | Learn About Law
In this article we discuss the different types of #Illinois #partnerships. We discuss General, Limited, and #Limited Liability Partnerships and the differences between them. Partnerships are one of the most commonly formed business entities. Partnerships come in three different forms: general partnerships, limited partnerships, and limited liability partnerships. All three of these partnerships are considered pass-through entities, meaning the partnership itself doesn’t pay any taxes, but the income it earns is passed through to the owners’ personal income.
Read more in the article at: https://www.oflaherty-law.com/learn-about-law/illinois-partnerships-explained-general-partnerships-limited-partnerships-lps-and-limited-liability-partnerships-llps
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