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HIUA Hotel Quotation FormCompany Status (please circle ONE only): SOLE PROPRIETOR / PARTNERSHIP / LIMITED LIABILITY PARTNERSHIP (llp) / LIMITED COMPANY (ltd) / PUBLIC LIMITED COMPANY (plc) / OTHERIf
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A limited partnership (LP) is a business structure that consists of at least one general partner who manages the business and has personal liability for partnership debts, and one or more limited partners who contribute capital and receive income, but do not participate in management, limited to their investment.
Typically, the general partner is responsible for filing the limited partnership formation documents and any required annual reports with the state.
To fill out the limited partnership formation documents, you generally need to provide the name of the partnership, the names and addresses of the general and limited partners, the purpose of the partnership, and the duration of the partnership.
The purpose of a limited partnership is to allow investment by limited partners while limiting their liability, allowing them to share in profits without incurring the risks associated with active management.
Information typically required includes the name of the partnership, addresses of partners, contributions made by limited partners, and the nature of the business.
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