what is the difference between an llc and a llp

what is the difference between an llc and a llp What is the difference between an LLC and an LLP is a common legal and business structure question. An LLC (Limited Liability Company) is a flexible business entity offering personal liability protection and pass-through taxation. An LLP (Limited Liability Partnership), on the other hand, is typically used by professional service firms like law or accounting practices, allowing partners to manage the business while limiting personal liability for each other’s actions. The choice between them depends on the nature of the business, number of owners, and regulatory requirements in your state.