Question: When we choose a partnership as a tax entity, it has nontax consequences that are different from those that arise from choosing the corporate form.

When we choose a partnership as a tax entity, it has nontax consequences that are different from those that arise from choosing the corporate form. Many things can cause a partnership to go sour, and many of them do not have a thing to do with taxes.
What are some of the more significant nontax consequences of choosing the partnership form?
Which do you think is the most important? Why?

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