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A USACORP agent is ready to assist you!
Is there any way we can help you today?
A USACORP agent is ready to assist you!
Whether you're managing investments or property, an LP gives you structure and protection, without unnecessary complexity.
We prepare and file your Certificate of Limited Partnership, clarifying roles for general and limited partners, and ensuring your entity meets state compliance requirements.
General partners manage the business and have unlimited personal liability for business debts. Limited partners are passive investors who contribute capital but don't manage daily operations - their liability is limited to their investment amount. Every LP must have at least one general partner.
LPs are ideal for investment ventures, real estate projects, or situations where you have active managers (general partners) and passive investors (limited partners). They're common in private equity, venture capital, and family investment partnerships where clear distinctions between managers and investors are beneficial.
Yes! Many LPs use a corporation or LLC as the general partner to limit personal liability. This structure gives you the benefits of LP taxation while protecting the managing partners from unlimited personal liability. We can help you set up this type of structure.
LPs are pass-through entities for tax purposes. The partnership files an informational return (Form 1065), and profits and losses pass through to partners who report them on their personal returns. General partners pay self-employment tax, while limited partners typically don't.
