These new laws will bring Scottish limited partnerships
into line with other limited partnerships
in the UK.
In determining that the losses were passive losses, the IRS took the position that the Garnetts' interests in the LLPs and LLCs were limited partnership
interests that were subject to Sec.
Under this doctrine Midland, not MAS One, would be entitled to claim a loss on the sale of the Clearwater Tower under the limited partnership
A limited partnership
or limited liability company has several advantages for all involved parties.
So it made it viable and feasible for us to develop this limited partnership
, called Wasaya Petroleum Limited Partnership
In a limited partnership
, only the general partner does not have limited liability.
The emergence of the limited partnership
as the dominant form of intermediary is a result of the extreme information asymmetries and potential incentive problems that arise in the private equity market.
While a limited partnership
isn't subject to the qualification restrictions of an S corporation, it must have at least one general partner who is personally liable for its debts.
Independent of the "business purpose" concern is the fact that on the authority of two recent California cases, interests in a limited partnership
can indeed be foreclosed upon if it can be done without interfering with the business of the partnership.
A typical family limited partnership
(FLP) is an excellent estate planning tool.
Among the forms that Canadian business activities may take are corporations, limited liability companies (LLCs) and regular or limited partnerships
CHICAGO -- Equity Office Properties Trust (NYSE: EOP) announced today that it has completed the previously announced mergers of Equity Office and EOP Operating Limited Partnership
, its operating partnership, with affiliates of Blackstone Real Estate Partners, an affiliate of The Blackstone Group.
The IRS recharacterized the losses as passive and argued that, because the taxpayer's business entity ,afforded him limited liability, his LLC interest was analogous to a limited partnership
Although very limited exceptions to this rule exist for entities such as estates and trusts, they do not address whether a limited partnership
or a limited liability company (LLC) can be an owner.
Reaffirming its long-term commitment to independent ownership in the metropolitan New York area, and making an early return of equity to its limited partnership
investors, W&M Properties has secured $16 million in permanent financing for its retail condominium in Zeckendorf Towers at 10 Union square East.