2de6c440_anize_Your_Business___Nolo_com__Main_Drawbacks
[Type of Entity] Limited Liability Partnership [Main Advantages] Mostly of interest to partners in old line professions such as law, medicine and accounting Owners (partners) aren't personally liable for the malpractice of other partners Owners report their share of profit or loss on their personal tax returns [Main Drawbacks] 
Unlike a limited liability company or a professional limited liability company, owners (partners) remain personally liable for many types of obligations owed to business creditors, lenders and landlords Not available in all states Often limited to a short list of professions
Chart: Ways to Organize Your Business | Nolo.com