Which of the following is NOT true about a limited liability limited partnership or LLLP$?$

Multiple Choice

An LLLP is a limited partnership that has elected limited liability status for all its partners, including general partners.

Limited partners in an LLLP receive a greater tax shelter advantage than do general partners.

The LLLP business form is often a rare choice.

Except for the liability of general partners, limited partnerships and LLLPs are identical.