Entity Structures - NBA689/Law663 Entity Structures Sole...

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NBA689/Law663 Entity Structures
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Sole Proprietorship Ms. X No actual entity Might use d/b/a Unlimited liability
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Partnership Partner Z Partner X No actual entity Pass through taxation Unlimited liability Partner Y
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Limited Partnership Actual entity formed by filing Certificate of Limited Partnership Pass through taxation LPs have limited liability (to extent of investment) GP has unlimited liability Smithline General Partner, LLC (GP of the LP) Smithline Development, LP LP 2 LP 1 LP 4 LP 3 LP 5 Ms. Y Mr. X Mr. Z Limited Partners Of LP LLC members of GP $ Invested
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Limited Liability Company (member managed) Actual entity created by filing Articles of Organization Pass through taxation Members have limited liability (to extent of investment and except as with respect to their own acts) Operating Agreement required Smithline Development, LLC Member
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