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The 2001 amendments to the Uniform Limited Partnership Act (to the extent the amendments are adopted by state legislature) also permitted limited partnerships to become limited liability limited partnerships in states that adopt the change. Under this form, debts of a limited liability limited partnership are solely the responsibility of the ...
The book Logic of Subchapter K: A Conceptual Guide to Taxation of Partnerships by Laura E.Cunningham and Noel D.Cunningham (2006) is popular in taxation courses. [41] The Nutshell series book Federal Income Taxation of Partners and Partnerships by Karen C. Burke (2005) [42] is a quick reference guide for taxation students.
LP (Limited Partnership): An investment structure, limiting both the liability and the participation of the investor. An investor who takes an active role will be deemed a general partner, and become exposed to unlimited liability. Corporation; Joint Venture: A business activity shared by two or more business entities.
A family limited partnership (FLP) is a complex structure that serves a strategic purpose for individuals desiring to manage and protect family assets, limit liability and potentially secure tax ...
A limited partnership in the United Kingdom consists of: One or more people called general partners, who are liable for all debts and obligations of the firm; and One or of the firm beyond the amount contributed.
A real estate limited partnership (RELP) is a specialized investment structure comprising general partners responsible for actively managing a property, and limited partners or passive investors ...