Due to its flow-through tax advantages and its characteristic of limited liability, the limited partnership has become an increasingly popular vehicle for a wide variety of public offerings. The authors discuss the mechanics of forming a limited partnership, explore many important income tax considerations, and point out current limitations imposed under federal and state securities laws regulating investment policies, promotional and management fees, and the transferability of public limited partnership interests.
Ronald R. Hrusoff and Carlos A. Cazares,
Formation of the Public Limited Partnership,
22 Hastings L.J. 87
Available at: https://repository.uchastings.edu/hastings_law_journal/vol22/iss1/4