Limited Partnership

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Limited partnership

A form of ownership in which partners are divided into two classes; the general partners who actively manage the operations and bear full responsibility; and the limited partners, whose exposure is normally limited in amount of obligation and have no control over the affairs of the partnership.
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The following article is from The Great Soviet Encyclopedia (1979). It might be outdated or ideologically biased.

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.

The Great Soviet Encyclopedia, 3rd Edition (1970-1979). © 2010 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
The regulations do not define what would be deemed to be a substantial ownership interest by the limited partners but Revenue Procedure 89-12 provides a safe harbor amount.
In reviewing the prospectus, it makes sense to talk to limited partners from prior projects.
Within the past 10 years, several cases were decided rejecting the IRS position that members of LLCs were limited partners for purposes of Sec.
1402(a)(13) provides that earnings from partnerships that are attributed to a limited partner, as such, are excluded from the definition of net earnings from self-employment unless the earnings are Sec.
The proposed regulation set forth guidelines to determine whether an individual who owns a partnership interest should be treated as a limited partner rather than a general partner by defining when an individual who owns an interest in a partnership would be treated as a limited partner for federal tax purposes.
The company's limited partner cloud is designed for large institutional investors, endowments, family offices, fund of fund managers, high net-worth individuals, consultants and advisors.
1402(a)(13) generally excludes limited partners of limited partnerships from self-employment tax; however, a limited partner does pay self-employment tax on guaranteed payments received from the partnership for services.
Delek Logistics Partners LP (NYSE:DKL) announced on Saturday that it will pay a quarterly cash distribution of USD0.61 per limited partner unit for the first quarter 2016.
Rattler Midstream LP (RTLR), a subsidiary of Diamondback Energy (FANG), and Diamondback announced the launch of Rattler's initial public offering of 33.33M common units representing limited partner interests at an anticipated initial offering price between $16.00 and $19.00 per common unit.
(NASDAQ: ARLP) has closed the acquisition of the general partner interests in Texas, US-based mining group AllDale Minerals, LP and AllDale Minerals II, LP and all limited partner interests in AllDale not currently owned by ARLP's affiliate, North Carolina, US-based coal mining group Cavalier Minerals JV, LLC, the company said.

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