Best Partnership LLC Type?

I have a partner who lives in ATL and I live in NY. What's the best type of LLC or partnership should I do? We're building a website together that will generate revenue. Any advice would be appreciated.

1 Answer

Relevance
  • Eva
    Lv 7
    8 months ago

    There is no "type". A multi member LLC is a partnership by default for tax purposes. The only difference between the two is the legal protection offered by the LLC. A LLC can also choose to be taxed as a corporation. The ramifications of that are too involved to go into here.

Still have questions? Get answers by asking now.