Limited liability partnerships and limited liability companies are two similar but distinct types of business entity. Neither one is required to pay corporate taxes; instead, taxation falls upon the individual partners or members. Both entities are very flexible in their structure, allowing them to fit the needs of many types of company, but key differences between them set the two types apart.
Many Michigan business owners know that the ever-shifting economy -- currently on the upswing, it seems -- and high cash reserves are driving business mergers and acquisitions. Buyers and sellers have different views of a buyout, but certain actions may make the sale easier and more profitable for all involved, according to a recent piece on the subject.