Farm owners and operators have five main business entities to select from. They include sole proprietorship, general partnerships, limited liability partnerships, ...

A business organization that allows limited partners to enjoy limited personal liability while general partners have unlimited personal liability A limited partnership is similar to a general ...

A limited partnership has both general and limited partners. The general partners own and operate the business and assume liability for the partnership, while the limited partners serve as ...

MLPs have two types of partners: general partners who manage ... compensation based on the partnership's business performance. An MLP is treated as a limited partnership for tax purposes, which ...

A family limited partnership (FLP) is a legal entity used in estate planning to manage, transfer and protect family assets. Family members can form an FLP, with one or more serving as general ...

As general partners, the parents maintain virtually full control of the business. A limited partner’s right to vote is restricted to voting on very limited issues, such as the sale of the ...