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Limited Partnership

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Limited Partnership 

in bourgeois civil law, a type of commercial or industrial company. The partners in such a company are divided into two categories: those whose liability for the company’s debts is limited to the amount they have invested, and those who are totally liable. Limited partnerships are most common in Great Britain, where the law does not give such partnerships the rights of a legal person. This type of British company is very similar to the commandite in France, the Federal Republic of Germany, and Italy.



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469(h)(2) treats a limited partner's losses from an interest in a limited partnership as presumptively passive.
469(h)(2) reads: "interests in Limited Partnerships--Except as provided in regulations, no interest in a limited partnership as a limited partner shall be treated as an interest with respect to which a taxpayer materially participates.
To understand the Limited Partnership Agreement, one must first understand the limited partnership Similar to the general partnership, the limited partnership consists of one or more general partners and one or more limited partners To understand the Limited Partnership Agreement, one must first understand the limited partnership.
 
 
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