Does an LLP Get a 1099? Complete Guide to Compliance
Understanding LLPs and 1099s: A Simple Explanation Many business owners wonder if Limited Liability Partnerships (LLPs) receive 1099 forms. The answer isn't simple "yes" or "no." It depends on the nature of the payments and the total amount paid. This guide clarifies the complexities, helping both businesses paying LLPs and LLP partners understand their compliance obligations. An LLP combines the flexibility of a partnership with the liability protection of an LLC....