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Does an LLLP need to file an annual report?
Does an LLLP need to file an annual report?
5 Answers
- ?Lv 72 years ago
I don't think it has to but its a really good idea anyhow. if you ever get audited there may be some question as to whether its really operating as a business and are all these expenses really justified, and having an annual report is a good idea to prove it is.
if you aren't really worried about all this then don't bother (unless its required by law depending on how the business is set up).
- JudyLv 72 years ago
llp? if it has elected to file as an s-corp, yes, otherwise no you just file as an individual.
- oklatomLv 72 years ago
The limited liability limited partnership (LLLP) is a relatively new modification of the limited partnership, a form of business entity recognized under United States commercial law. An LLLP is a limited partnership and as such consists of one or more general partners and one or more limited partners.
If the law where the LLLP is established requires it, yes. If not, no.