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This is concerning a feature film production, in which I would offer up to 49.9% of the company for investors. I am considering an LLP or a LLC. The LLP would have the 49.9% as limited partners which would be the investors and the remaining would be the general partner; which would be the production company LLC. So I`m leaning towards just doing the production company LLC and offering the 49.9% of that, since I would intend to purcahse back the 49.9% eventually. If I did that with the LLP, I`d have to have my LLC buyout the Limited Partners and then take over the LLP.
So in this case which would be the better company structure LLP or LLC?
Total capital costs would be 1.5 - 2 million.