This business entity is a partnership with two levels of partners: general partners and limited partners. A general partner makes the business decisions and controls the business. The limited partner has a stake in the company, usually through an investment of capital, but has limited control over business decisions. A Certificate of Limited Partnership must be filed with the Secretary of State. General partners are personally liable for the debts and obligations of the partnership. Limited partners are only liable to the extent of their investment in the company. Earnings for all partners are generally taxed as personal income.
The Hosford Law Firm has successfully helped people obtain Limited Partnerships.
We are able to handle your filing process from beginning to end.
You can be assured that your Limited Partnership will be handled with professionalism and in an expeditious manner.