ENTITY COMPARISON CHART (1 OF 4)
01.Core Concepts
LLP Limited Partnership General Partnership Proprietorship High Medium-High Medium Low Cost to create (money & time) Yes No (if limited partner) Yes (if general partner) Yes Yes Personal liability of investors for enterprise debt Yes Yes Generally, Not No Annual state filing requirement Unlimited Unlimited Unlimited One Maximum owners Partner or Limited Partner Partner or Limited Partner Partner Owner Owners are known as