What Is a Limited Partnership?

Date: Monday, December 13 2004

What is a limited partnership?

A limited partnership is a business structure with one or more general partners and one or more limited partners. The general partners operate the business and the limited partners are typically passive investors.

The limited

partnership vehicle is often used for operating real estate, a restaurant, a venture capital fund, or a hedge fund.

Limited partnerships have only one level of tax — the partners are taxed, not the limited partnership.

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