When you are making decisions concerning the management of your company it is important to weigh all your options. While there is the common deliberation of being a sole owner versus engaging in a partnership, there is also a unique option of choosing to take part in a limited partnership.
If you are considering forming a partnership of any sort it is important that you have the input and assistance of an experienced legal professional. Contact the Des Moines business attorneys of LaMarca Law Group, P.C. at (877) 327-2600 today to learn more about your options.
Qualities of a Limited Partnership
There are a number of limited partnership qualities that individual business owners may find advantageous. These include:
- At least one of the business partners will have limited liability for the company
- Liability for the business is shared across the partners
- Limited partnerships are typically not subject to double taxation
- All partners will usually have decision making abilities and access to the flow of income
- The income of a limited partnership is typically only taxed to the partners and is not taxed to the partnership itself
These factors make a limited partnership an attractive option for many business owners.
When making any important contractual decisions for your company, including forming a partnership, it is important that you have the support of a legal professional. This will give you the protection you need to promote your best interests. Contact the Des Moines business attorneys of LaMarca Law Group, P.C. at (877) 327-2600 to speak to a friendly and experienced lawyer today about your business needs.