id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
ftr-492	Brannan, William B.	Lingering Partnership Classification Issues (Just When You Thought It Was Safe To Go Back Into the Water)	2022	66	.pdf	application/pdf	32360	1380	48	In recognition of that fact, the regulations qualify the general rule for limited partnerships with a corporate general partner by providing that the entity will be deemed to have limited liability if (1) the general partner has no substantial assets (other than its interest in the partnership) that could be reached by creditors of the partnership and (2) the general partner is merely a 'dummy' acting as the agent of the limited partners. Thus, one might ask why corporate general partners of limited partnerships are so frequently capitalized with substantial assets at the direction of tax lawyers.	cache/ftr-492.pdf	txt/ftr-492.txt