Limited Liability Companies share some of characteristics of partnerships and some of the characteristics of corporations. Write a 4-5 paragraph essay describing the advantages and disadvantages of partnerships and corporations. Identify the essential LLC characteristics regarding liability, tax, profit and

Limited Liability Companies share some of characteristics of partnerships and some of the characteristics of corporations. Write a 4-5 paragraph essay describing the advantages and disadvantages of partnerships and corporations. Identify the essential LLC characteristics regarding liability, tax, profit and loss sharing and explain how the LLC statute is a better choice for most businesses.