A disadvantage of doing a business as a limited liability limited partnership formed under the Limited Partnership Act of 2001 is that
A) general partners do not have limited lia- bility for the debts and obligations of the partnership.
B) the limited liability limited partnership is not formed until the proper documentation is filed with the secretary of state.
C) limited partners may not participate in the management of the partnership business.
D) the limited liability limited partnership is subject to double taxation.
Correct Answer:
Verified
Q6: In states that have adopted partial shield
Q7: A carefully drafted partnership agreement can be
Q8: The number of limited liability partnerships in
Q9: Foreign limited liability partnerships generally do not
Q10: Partners of a limited liability partnership may
Q12: State partnership laws generally have provisions
A) requiring
Q13: The Limited Partnership Act of 2001
A) assumes
Q14: In most states, the same number of
Q15: In most states, limited liability partnerships are
Q16: Several states have adopted limited liability limited
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