Examlex
__________________ means "knowing about knowing."
General Partner
A member of a partnership who has unlimited liability and takes part in the daily operations of the business.
Taxed
Subjected to a financial charge or levy by a governmental organization in order to fund various public expenditures.
S Corporation
A close corporation whose shareholders have elected to be taxed essentially like partners are taxed under federal income tax law. Also called subchapter S corporation.
Limited Partnership
A partnership structure where at least one partner has unlimited liability, and at least one partner has limited liability.
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