a partnership formed by at least one general partner and at least one special partner.
- Also called special partnership.
- Compare general partnership.
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2024
How to use limited partnership in a sentence
By contrast, partnerships, including master limited partnerships, don’t generally pay taxes.These Real Estate and Oil Tycoons Avoided Paying Taxes for Years | by Jeff Ernsthausen, Paul Kiel and Jesse Eisinger | December 7, 2021 | ProPublica
Master limited partnerships, the corporate form that Energy Transfer uses, were on the chopping block.These Real Estate and Oil Tycoons Avoided Paying Taxes for Years | by Jeff Ernsthausen, Paul Kiel and Jesse Eisinger | December 7, 2021 | ProPublica
In effect, the American government has been in a limited partnership with the Assad regime for almost a year.
Since Mr. Allen and myself agreed to end our limited partnership, I have kept the regular slips in my safe.The Missing Tin Box | Arthur M. Winfield
"Why, sir, that would make marriage a limited partnership," said Quincy with a smile.Quincy Adams Sawyer and Mason's Corner Folks | Charles Felton Pidgin
It goes far beyond anything in the line of limited partnership he ever saw.A Walk from London to John O'Groat's | Elihu Burritt
The statutes of the different states differ somewhat as to the purposes for which a limited partnership may be formed.
In general, however, a limited partnership may be formed to carry on any business except banking and insurance.