TN 12 (09-90)

RS 01802.302 Limited Partnerships


A limited partnership is created in accordance with State statutory requirements.

  • One or more general partners, with unlimited liability and vested control of the management of the business.

  • One or more limited partners, (also called special partners, or in Louisiana, partners in commendem.)

  • Limited liability of limited partners.

  • No management responsibilities of limited partners.


After 01/01/78, income derived as a limited partner is not NESE, except for guaranteed salary payments. See RS 01802.375.


Request a copy of the certificate of registration. when there is a question as to whether someone is a limited partner. Most States require notice to the public of the formation of a limited partnership. Notice is usually given by the filing of a certificate with specified State or county officials.

To Link to this section - Use this URL:
RS 01802.302 - Limited Partnerships - 03/06/1991
Batch run: 07/03/2014