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How do limited partnerships pay taxes?
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With the implementation of the Partnership Enterprise Law, a large number of excellent limited partnerships have emerged in China, such as Qingdao Weir and Nanhai Venture Capital. With the development of these enterprises, many people have a growing demand for understanding of limited partnerships, such as "how to pay taxes for limited partnerships" and so on.

First, how to pay taxes for limited partnerships

According to the Civil Law, a partnership enterprise is an unincorporated organization. Therefore, a limited partnership is also an unincorporated organization. Because it does not have the nature of a legal person, it is not necessary to pay enterprise income tax. So how do limited partnerships pay taxes? For a limited partnership, its partners are composed of individuals and legal persons. Therefore, when a limited partnership is profitable, according to the profit distribution method agreed in the partnership agreement, individuals pay personal income tax with their income, and legal persons pay enterprise income tax with their profits.

II. Conditions for the establishment of a limited partnership enterprise

(1) A limited partnership enterprise shall be established by two or more and fifty or less partners, except as otherwise provided by law;

(2) A limited partnership enterprise shall have at least one general partner;

(3) The words "limited partnership" shall be marked in the name of a limited partnership enterprise;

(4) Limited partners may make capital contributions in cash, in kind, intellectual property rights, land use rights or other property rights at a fixed price;

(5) A limited partner may not contribute capital with labor services;

(6) The limited partner shall pay the capital contribution in full and on time according to the partnership agreement; If it fails to pay in full on schedule, it shall bear the obligation to repay the purchase price and bear the liability for breach of contract to other partners;

(7) The registered items of a limited partnership enterprise shall specify the name of the limited partner and the amount of capital subscribed;

(8) In a limited partnership, the general partner carries out the partnership affairs. The executive partner may require that the executive partner's remuneration and remuneration extraction method be determined in the partnership agreement;

(9) A limited partner shall not represent the limited partnership enterprise externally without performing partnership affairs.

Three. Special provisions on the implementation of limited partnership affairs

(a) the executor of the limited partnership affairs

According to the Partnership Enterprise Law, the general partner carries out partnership affairs in a limited partnership enterprise.

(2) Prohibiting limited partners from carrying out partnership affairs.

The Partnership Enterprise Law stipulates that a limited partner shall not represent a limited partnership enterprise without performing partnership affairs. The following acts of a limited partner shall not be regarded as the execution of partnership affairs:

(1) Participate in the decision of joining or quitting the general partner;

(two) to make suggestions on the operation and management of enterprises;

(three) to participate in the selection of accounting firms to undertake the audit business of limited partnership enterprises;

(4) Obtaining the audited financial and accounting reports of the limited partnership enterprise;

(five) in cases involving their own interests, consult the financial accounting books and other financial materials of the limited partnership enterprise;

(six) when the interests of the limited partnership enterprise are infringed, claim rights or bring a lawsuit to the responsible partner;

(7) When the managing partner is lazy in exercising his rights, he urges him to exercise his rights or file a lawsuit in his own name for the benefit of the enterprise;

(8) Provide guarantee for this enterprise according to law.

In addition, the Partnership Enterprise Law stipulates that if a third party has reason to believe that a limited partner is a general partner and makes a transaction with him, the limited partner shall bear the same responsibilities as the general partner for the transaction. Where a limited partner deals with others in the name of a limited partnership without authorization, causing losses to the limited partnership or other partners, the limited partner shall be liable for compensation.

(3) Profit distribution of limited partnership enterprises

The Partnership Enterprise Law stipulates that a limited partnership enterprise shall not distribute all its profits to some partners; However, unless otherwise agreed in the partnership agreement.

(4) the rights of limited partners

(1) Limited partners may conduct transactions with this limited partnership; However, unless otherwise agreed in the partnership agreement.

(2) A limited partner may engage in business that competes with the limited partnership alone or in cooperation with others; However, unless otherwise agreed in the partnership agreement.

(3) A limited liability partner may pledge his share of the property in the limited liability partnership, unless otherwise agreed in the agreement.

(four) according to the partnership agreement, its share of property in the limited partnership enterprise can be transferred to people other than the partners, but the other partners should be notified 30 days in advance.

Paying taxes is an obligation that every citizen and organization must fulfill. Although a limited partnership enterprise is not a legal person organization and does not need to pay taxes, its partners are individuals and legal persons. Therefore, limited partnership companies need to pay taxes according to their income.