Related Words

Limited Liability: Limitation of shareholders' losses to the amount invested.

Limited Liability Company (LLC): LLCs are a relatively recent form of business organization. An LLC combines the most attractive features of limited partnerships and corporations. The members of an LLC enjoy the limited lia . . . View Full Definition

Limited (LTD): Ltd' after a company name indicates that the company is privately owned with 'limited liability' status. This means that the directors of the company are not liable for the company's debts i . . . View Full Definition

Limited Partnership: A limited partnership is a financial affiliation that includes at least one general partner and a number of limited partners. The partnership invests in a venture, such as real estate develo . . . View Full Definition

Limited Liability Company: Organizing a business enterprise as a limited liability company (LLC) under the laws of the state where it operates protects its owners or shareholders from personal responsibility for compa . . . View Full Definition

Unlimited Tax Bond: Full liability for the debt and other obligations of a legal entity. The general partners of a partnership have unlimited liability.

Limited-Liability Instrument: A security, such as a call option, in which the owner can lose only the initial investment.

Limited-Tax General Obligation Bond: A general obligation bond of a government backed by specified or constrained revenue sources.

Net Tax Liability: The amount of tax computed by subtracting tax credits from the gross tax liability.

Master Limited Partnership (MLP): A publicly traded limited partnership.