Question: What is the most important difference between a limited partnership and a limited liability partnership? There must be one partner with unlimited liability in a
What is the most important difference between a limited partnership and a limited liability partnership?
There must be one partner with unlimited liability in a limited partnership, but not in a limited liability partnership.
There must be one partner with unlimited liability in a limited liability partnership, but not in a limited partnership.
A limited partnership is not a taxable entity, but a limited liability partnership is a taxable entity.
There is a maximum number of partners permitted in a limited partnership, but not in a limited liability partnership.
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