d3af2f1a__Comparison_of_Business_Entity__6
[0] Limited Partnership [1] Partners [2] 1 General & 1 Limited Partner minimum [3] Only general partners are liable [4] Only the general partners [5] Terminates unless Partnership Agreement states otherwise [7] Initial filing [8] From the partners [9] Paid by partners unless elect corporate tax status [10] Special rules apply – check with tax advisor [11] Not usually but can deduct medical insurance & set up IRA or Keogh retirement plan [12] Multiple owners with passive owners wanting limited liability & pass thru tax status without forming an LLC [6] 
Consent of all partners usually required by Agreement
Select a Business Entity, Comparison of Business Entity
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