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Limited Partnerships

Limited Partnership

A limited partnership is a form of business ownership that consists of one or more general partners and one or more limited partners. A limited partnership is commonly used when there are passive investors who are not interested in the day-to-day management of the business but are simply interested in sharing in the business's profits. They are also used by families to control and protect family assets and estates.

State limited partnership laws control the formation of limited partnerships and limited partners may be required under state law to register with the state. Generally, there are minimal filing requirements and fees for limited partnerships.
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Limited Partnerships - Selected State Laws

AlabamaAlabama Code > Title 10 > Chapter 9A - Limited Partnerships
Alabama Code > Title 10 > Chapter 9B - Alabama Limited Partnership Act Of 1997
AlaskaAlaska Statutes Chapter 32.11 - Uniform Limited Partnership Act
ArizonaArizona Laws > Title 29 > Chapter 3 - Limited Partnerships
CaliforniaCalifornia Corporations Code > Title 2 > Chapter 5.5 - Uniform Limited Partnership Act Of 2008
ConnecticutConnecticut General Statutes > Title 34 > Chapter 610 - Uniform Limited Partnership Act
DelawareDelaware Code Title 6 > Chapter 17 - Limited Partnerships
FloridaFlorida Statutes > Chapter 620 > Part I - Florida Revised Uniform Limited Partnership Act of 2005
HawaiiHawaii Revised Statutes > Chapter 425E - Uniform Limited Partnership Act
IdahoIdaho Code Title 53 > Chapter 2 - Uniform Limited Partnership Act
IndianaIndiana Code > Title 23 > Article 16 - Limited Partnerships
IowaIowa Code Chapter 488 - Uniform limited partnership Act
KansasKansas Statutes > Chapter 56 - Partnerships
MaineMaine Revised Statutes Title 31 > Chapter 15 - Limited Liability Partnerships
Maine Revised Statutes Title 31 > Chapter 19 - Uniform Limited Partnership Act
MassachusettsMassachusetts General Laws > Part I > Title XV > Chapter 109 - Limited Partnerships
MichiganMichigan Laws > Chapter 449 > Act 213 of 1982 - Michigan Revised Uniform Limited Partnership Act
MinnesotaMinnesota Statutes Chapter 321 - Uniform Limited Partnership Act 2001
Minnesota Statutes Chapter 322 - 1919 Uniform Limited Partnership Act
MissouriMissouri Laws > Title XXIII > Chapter 359 - Uniform Limited Partnership Law
MontanaMontana Code Title 35 > Chapter 12 - Limited Partnerships
NevadaNevada Revised Statutes > Chapter 87A - Uniform Limited Partnership Act (2001)
Nevada Revised Statutes > Chapter 88 - Uniform Limited Partnership Act
New HampshireNew Hampshire Revised Statutes > Chapter 304-B - Uniform Limited Partnership Act
New MexicoNew Mexico Statutes Chapter 54 > Article 2A - Uniform Revised Limited Partnership Act
New YorkNew York Laws - Partnership > Article 8 - Limited Partnerships
New York Laws - Partnership > Article 8-A - Revised Limited Partnership Act
New YorkNew York Laws > Partnership > Article 8 - Limited Partnerships.
New York Laws > Partnership > Article 8-A - Revised Limited Partnership Act
North CarolinaNorth Carolina General Statutes Chapter 59 > Article 5 - Revised Uniform Limited Partnership Act
North DakotaNorth Dakota Code > Chapter 45-10.2 - Uniform Limited Partnership Act
OhioOhio Code > Title 17 > Chapter 1782 - Limited Partnerships
Ohio Code > Title 17 > Chapter 1783 - Limited Partnership Associations
OregonOregon Statutes > Chapter 70 - Limited Partnerships
Rhode IslandRhode Island General Laws > Chapter 7-13. Limited Partnerships
South CarolinaSouth Carolina Code > Title 33 > Chapter 42 - Uniform Limited Partnership Act
South DakotaSouth Dakota Laws > Title 48 > Chapter 7 - Uniform Limited Partnership Act
TennesseeTennessee Code > Title 61 > Chapter 2 - Revised Uniform Limited Partnership Act
TexasTexas Business Organizations Code > Title 4 > Chapter 153 - Limited Partnerships
UtahUtah Code > Title 48 > Chapter 2 - Utah Revised Uniform Limited Partnership Act
VermontVermont Statutes > Title 11 > Chapter 23 - Limited Partnerships
VirginiaVirginia Code Title 50 > Chapter 2.1 - Virginia Revised Uniform Limited Partnership Act
West VirginiaWest Virginia Code > Chapter 47 > Article 9 - Uniform Limited Partnership Act
WisconsinWisconsin Statutes Chapter 179 - Uniform limited partnership act
 

Questions & Answers: Limited Partnerships

Do we have to register for a business license if three owners of a house want to rent it out? And if how do we apply for a tax ID number?...
 
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