Business Formation CPA and Non-CPA partnership

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#1
Posts:
76
Joined:
26-Feb-2018 9:40pm
Location:
hi
How would a partnership that is owned by a CPA and a non-CPA be formed? If it was two CPAs than it would be an LLP. If it is one CPA and one-non CPA would it just be an LLC?

Can a PLLC be modified for a partner to be a LLC so that I wouldn't have to file to all of the paper work over again plus the fees?
 

#2
Posts:
2928
Joined:
21-May-2018 7:50am
Location:
Northern MI and Coastal SC
I do not know the laws in Hawaii, which govern this.

I am in South Carolina. At the time, they required majority ownership to be by the CPA, defined as 66 2/3%. For simplicity, we just did a 67/33 split. Now, the state allows simple majority split for ownership. Both of my CPA firms have been LLCs and I am noticing more firms adopting LLC formations instead of LLPs, PAs, etc.
 


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