... partnership to a third party without such agreement, but such transfers apply only to the right to share in distributions and profits and losses, but do not transfer the rights to participate ... As a practical matter, the formation of a corporation can be less expensive than forming a general partnership, a limited partnership or a LLC. Ease of Formation/Costs 16 The ... The tax treatment of an entity is one of the most important criteria in this decision. A general partnership, limited partnership, limited liability company and “S” corporation are “pass through”...