Limited partner

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Limited partner

A partner who has limited legal liability for the obligations of the partnership.

Limited Partner

In a company, one who shares with at least one other partner, jointly and severally, a business' ownership. Limited partners exist in limited partnerships and limited liability partnerships, but in both situations they are only liable for the capital they have invested in case of bankruptcy. In limited partnerships, the limited partners have no management authority and confine their participation to their capital investment. In limited liability partnerships, all partners are limited and therefore at least some have management authority. Profits are divided among limited partners according to an arrangement formed at the creation of the partnership.

Limited partner.

A limited partner is a member of a partnership whose only financial risk is the amount he or she has invested.

In contrast, all the assets of the general partner or partners, including those held outside the partnership, could be vulnerable to claims brought by the partnership's creditors.

References in periodicals archive ?
solicited consents from the limited partners to call a special meeting of the limited partners to consider and vote on a series of resolutions sponsored by Ronin.
LLCs are an attractive alternative to partnerships and corporations, because they provide limited personal liability to members with a single level of tax; in contrast, general partners have personal liability for partnership debts, while limited partners cannot participate in partnership management without jeopardizing their limited liability.
1402(a)2(g) to specifically exclude an individual's distributive share of income or loss as a limited partner described in Regs.
Dick may recognize gain on the transaction if his share of recourse liabilities of the partnership will be reduced to zero when he becomes a limited partner.
The section 469 temporary regulations appear to suggest all LLC members are in fact limited partners because of their limited liability under state law.
The limited partners then voted to dissolve Vandom.
In addition, as the preferential limited partners, they receive a fixed cashflow that will not be subject to self-employment taxes.
and each of the 18,300,000 outstanding limited partner interests and units of the partnership will be converted into 0.
An LLC member's share of LLC income is not subject to SE tax if the member is considered a limited partner.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the limited partner units described in this press release, nor shall there be any sale of these limited partner units in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
89 per limited partner unit, for the fiscal year ended September 30, 2006, compared to adjusted net income of $87.
The new proposed regulations provide guidance for treating a member of an LLC as a general or limited partner for SE tax purposes.

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