general partnership
general partnership
gen′eral part′nership
n.
| 单词 | general partnership |
| 释义 | general partnershipgeneral partnershipgen′eral part′nershipn. general partnershipGeneral partnershipGeneral PartnershipIn most jurisdictions, partnerships are preferable to corporations because partnerships' profits are not taxed prior to distribution to the partners. In other words, there is no equivalent to a corporate tax on partnerships. On the other hand, partners have more legal and financial liability in case of liquidation than would shareholders and most management in a corporation. See also: Limited partnership, Limited liability partnership. general partnershipgeneral partnershipA partnership in which all partners are general partners. Contrast with limited partnership. |
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