The regulations nevertheless deem limited partnerships subject to statutes conforming with the ULPA to lack centralized management unless the limited partnership is substantially owned by the limited partners
. Where limited partners
have a substantial interest in a partnership, the general partners are deemed to be representatives of the limited partners
, merely managing the partnership on their behalf.
It is important for any limited partner
to ascertain from whom the property is actually being purchased; i.e., is it an independent party or a party related to the general partner?
in limited partnerships have an additional hurdle to prove that they are "materially participating." Sec.
Treasury attempted to define "limited partner
" for the purpose of Sec.
1402(a)(13) further provides that earnings from partnerships that are attributed to a limited partner
are excluded from the definition of self-employment income unless the limited partner
receives a guaranteed payment for services rendered to or on behalf of the partnership.
Net income for the nine months ended September 30, 2008 is USD109.0m, or USD2.09 of adjusted net income per diluted limited partner
unit, compared to net income of USD130.5m, or USD2.89 of adjusted net income per diluted limited partner
unit for the 2007 same period.
M2 EQUITYBITES-July 6, 2016-Navatar launches limited partner
investment platform for institutional investors
2010-23.) These cases concluded that a member of an LLC or an LLP who can exercise management authority is not automatically treated as a limited partner
for purposes of applying the Sec.
The company will distribute USD0.425 per limited partner
unit, or USD1.70 per limited partner
unit on an annualised basis, payable on August 14, 2008 to unit holders of record on August 11, 2008.
M2 EQUITYBITES-April 25, 2016-Delek Logistics Partners announces 15.1% higher distribution of USD0.61 per limited partner
unit for quarter over 2015