Limited Liability Companies: Tax and Business Law.* Limited Liability Limited Liability A type of liability that does not exceed the initial amount a person invested into a partnership.Notes: Limited liability refers to the terms of limited partnerships, which comprise at least one general partner, who takes on unlimited liability, and one or more limited partners, who would never lose more than their original initial investment in fulfilling the partnership's obligations. Companies: Tax & Business Law, by Carter G. Bishop and Daniel S. Kleinberger (WG&L, 2005), comprehensively and analytically addresses the critical issues facing tax advisers on the formation, operation and dissolution of limited liability companies (LLCs) and other vehicles, such as limited liability partnerships and limited liability limited partnerships. The work examines the state rules on LLCs and their effect on tax planning. Several convenient tables compare the various state laws on matters of importance to LLC formation and operation, as well as those of other limited liability vehicles. Over 2,000 pages; $305. Contact (800) 950-1216; www.riahome.com.
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