29366cf9_ess_Structure__Ownership_Type__ation_Structure_Considerations_2
[0] Limited Partnership (LP) [1] Yes [3] At least one general partner has unlimited liability [4] Some formal requirements, but less formal than corporations [5] Limited partners are excluded from management unless they serve on the board of directors [6] Files taxes as separate entity, must meet certain criteria to avoid being taxed as a corporation Federal Taxation [7] Taxes based on business entity income. General Partners have unlimited liability. Limited partners may have liability up to the amount of their investment [2] 
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Access Washington - Determine Your Business Structure (Ownership Type)
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