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Home | Business Formations | Limited Partnerships

Limited Partnerships

1.	Definition of a Limited Partnership
2.	Reasons for Creating a Limited Partnership
3.	Definition of a Family Limited Partnership
4.	General Partners in a Limited Partnership
5.	Limited Partners in a Limited Partnership
6.	Advantages of a Limited Partnership
7.	Disadvantages of a Limited Partnership
8.	Taxing Limited Partnerships
9.	Family Limited Partnerships
10.	Setting up a Family Limited Partnership
11.	Partners in a Family Limited Partnership
12.	Taxing a Family Limited Partnership
13.	Assets in a Family Limited Partnership
14.	Estate Tax Credits and Family Limited Partnerships
15.	Advantages of Family Limited Partnerships
16.	Family Benefits from Family Limited Partnerships

12. Taxing a Family Limited Partnership

A family limited partnership is typically taxed like a general partnership. Profits are passed directly to partners based upon their ownership interest and reported as personal income on their individual tax returns. Unlike a corporation, there is no corporate tax imposed on a limited partnership. And unlike an S corporation, taxes are not collected on assets that pass from the partnership to its partners.

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