limited partner

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Related to limited partners: general partnership

limited partner

n
(Commerce) a business partner who has no management authority and no personal liability
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The court cases determined that the taxpayers did not hold LLC units as limited partners and therefore should not be treated as presumptively passive under Sec.
Where the client's family is left in control of the general partner, the partnership agreement should clearly state that the general partner has fiduciary duties to the limited partners (which includes the decedent), that the limited partners have no management rights, and that family members are acting independent of the decedent.
the "Partnership") announced today that it has postponed the special meeting of limited partners to 9:00 a.
The owner of the property contributes it to a limited partnership in which he or she is the general partner and family members may be the limited partners.
An attorney who prepared the partnership returns and the Schedules K-1 for the three partnerships is deemed the preparer of the individual returns filed by the limited partners and is subject to the penalty for negligent preparation of those returns.
In such a faltering economic context, to feel the pulse of domestic Limited Partners and figure out their investment intentions will, without doubt, have important implications for further strategies.
Payments to the limited partners during the same period were intended to pay their income taxes.
In addition, limited partners have limited rights in management whereas LLCs are designed to permit all members to be active in management.
The CPA decides to ignore the issue, and nothing comes of it until the investment hits hard times and the limited partners stop receiving any annual distributions.
According to Yin, a JCT proposal (if enacted) would apply the SE tax rule that is currently applicable to general partners, to any owner of a partnership or S corporation (including general and limited partners, limited liability company (LLC) members and S shareholders).
9728002, the Internal Revenue Service ruled that legal and accounting fees resulting from a lawsuit filed by limited partners against a company's general partners could be deducted only as a miscellaneous itemized deduction.
UVF students raised an unprecedented $18 million from limited partners to invest in the high-risk/high-reward world of venture capital.

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