Limited Partnerships are one of the forms of entities available to form in California. Limited Partnership offers limited partners limited liability to the extent of their investment in the business. Nonetheless, Limited Partnership has several salient drawbacks. This article explores the building blocks of Limited Partnerships, its formation, taxation and some of the drawbacks associated with such business entity.
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Published In:
Business Organization Updates, Tax Law Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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