The limited liability partnership (LLP) offers the following benefits:

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The LLP offers the tax benefits of a partnership, which means that the income is not taxed at the business level, but rather passed through to the partners and taxed at their individual tax rates. Additionally, the LLP offers personal liability protection for the malpractice of other partners, which is similar to the protection offered by a corporation, but without the double taxation.

The Limited Liability Partnership (LLP) Offers the Following Benefits