Iowa New Business Attorneys | Your Iowa Lawyers

Can limited partners be active participants in a partnership?

Posted on December 16th, 2009 No Comments

In some types of partnerships, partners are divided into two classes. These include general partners and limited partners.

General partners generally run the partnership and are personally liable for many of the businesses debts. Limited partners, on the other hand, are typically not personally liable for the businesses debts.

However, limited partners typically cannot actively particiapte in the business. This means that limited partners cannot make decisions that affect the everyday operation of the business.

If you have legal questions about your limited partnership, contact Your Iowa business formation lawyers of LaMarca & Landry, P.C., at 877-327-2600.

Iowa new business attorneys, Iowa new business lawyers, Your Iowa business partnership lawyers

Do you need to register your business?

Posted on November 24th, 2009 No Comments

Many people who start their own business believe they need to register their business. While this is usually true for most businesses, it may not always be the case.

If the person is planning on starting a sole-proprietorship, then that person may not need to register his or her business. Instead, the business will eventually be registered with the federal government when that person files his or her tax return.

If you or anyone you know is considering starting a new business, contact Your Iowa new business lawyers of LaMarca & Landry, P.C., at 877-327-2600.

Iowa new business attorneys, Iowa new business lawyers