Kommanditselskab

A kommanditselskab (Danish pronunciation: [kʰomænˈtitselˌskɛˀp, kʰɔ-]; abbreviated K/S) is the Danish equivalent of the limited partnership. The owners are divided into general partners (komplementarer in Danish) and limited partners (kommanditister in Danish). Often the only general partner of a K/S is an Anpartsselskab with the least possible capital, thus reducing the liability of the K/S to the capital of the Anpartsselskab.

Liability

The general partners have joint and several liability for the debts of the partnership while the limited partners have limited liability i.e. they are only liable on debts incurred by the firm to the extent of their investment.

Often it is the general partners who are running the company while the limited partners acts as passive investors.

Taxation of a K/S

In Danish tax law a K/S is not taxable and does thus not pay corporation taxes. This means that the assets of the K/S is taxed as personal assets of the owners. This is a great advantage if the K/S is having a deficit as this can be subtracted from the taxable income of the owners.

gollark: I NEED THIS!
gollark: 80 MILLION?!
gollark: They run off RF instead of coal, they can dig stuff selectively at long range, they're faster...
gollark: Digital miners are, in my opinion, way more powerful autominers.
gollark: Also, did you try comparing a turtle quarry to a digital miner or something?

See also

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.