What is the differnce between the partnership and a limited partnership?

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What is the differnce between the partnership and a limited partnership?

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    wartz
    June 20, 2013 at 10:56 am

    In a general partnership all the partners share in the operation of the business and are liable for partnership debts. In a limited partnership, the limited partners are investors who do not participate in the management of the business and are not personally responsible for debts. Limited partnerships are popular because a partnership does not pay income tax and income is only taxed to the partners.

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