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In this structure each partner is fully liable for the debts of the partnership but not for professional negligence or malpractice committed by the other partners. Membership is allowed to consists of individuals, corporations, other limited liability companys (LLCs) and foreign entities.
The EG is a not for profit corporation that is controlled by a board of trustees. The corporation is protected from liability issues and pays both corporation and shareholders’ dividend taxes. Similarly, SSC is a corporation.
Potential owners, partners, limited partners and shareholders, must be fully aware of their responsibility both legally and financially...
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