There are three typical classifications of partnerships: general partnerships, limited partnerships, and limited liability partnerships.

有三种典型的分类的伙伴关系：一般的伙伴关系，有限合伙和有限责任的伙伴关系。

youdao

Unlike corporations and limited liability partnerships on other permission or formality is required and the state corporate division is not involved.

不同于企业和有限责任的合伙关系要求其他许可或手续，以及州的公司处并不涉及其中。

youdao

Private partnerships were wonderfully flexible but lacked the vital ingredient of limited liability: partners could lose everything they owned if the business failed.

私营合伙企业具有很好的灵活性，但缺乏有限责任的重要元素。也就是说，一旦他们拥有的企业失败，合伙人将一无所有。

youdao

The problem with partnerships, generally, has been that they don't have limited liability.

通常合伙制企业的问题是,合伙人具有无限责任

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The most important change is that the much lower individual income tax rates after tax reform, from a top rate of 70% when Reagan entered office to 28% after the reform, caused billions in business income to switch from corporate tax returns to individual tax returns as subchapter S corporations, partnerships, LLCs (limited liability partnerships), and proprietorships.

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Some would have paid big bucks anyway to set up complex estate planning vehicles such as trusts, limited liability companies and family limited partnerships.

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Most small businesses are organized as limited liability companies, partnerships and subchapter S corporations.

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