What distinguishes partnerships?
With partnerships Are they standing Shareholders in the foregroundWhat they hear from the limited liability company Distinguish. Because capital is the focus of corporations. This results in further differences in liability, incorporation and taxation.
What are the differences with corporations?
While you can also found corporations alone, it takes per partnerships Always at least two shareholders. Establishing a partnership requires no minimum capital And from a purely legal point of view, no written Social contract.
For corporations, on the other hand, the minimum capital is 25,000 or 50,000 euros. The shareholders are also employed there as managing directors with a fixed salary and an employment contract. In the case of corporations, liability is limited to capital. As a partner in a partnership, you are liable with your own assets. There is therefore a risk of personal insolvency.
What forms are there?
The various shapes Of partnerships, they are open trading company (OHG), the Limited partnership (KG), the Civil Law Society (GbR) And the Partnership company (PartG).
The civil law company is a popular legal form for traders who join forces at least in pairs with an entrepreneurial goal. Partnership companies are only possible for freelancers like doctors or lawyers. They let themselves into Partnership register register and are Limited liability with regard to professional mistakes.
You can set up an open trading company or limited partnership as a trading company. OHGs and KGs must move into commercial register register and sign up with Gewerbeamt sign in.
What are the advantages and disadvantages of partnerships?
The continued existence of the partnership depends on the shareholders, which is why it becomes difficult when a partner leaves. All partnerships without a commercial register entry can use simple bookkeeping with YOURS do. However, OHG and KG are an exception to this, as the entry in commercial register to double bookkeeping obliges.
For a GbR In purely legal terms, is only a oral social contract necessary for PartG On the other hand, does the Obligation to write a partnership agreement. This includes, for example, agreements regarding responsibilities and tasks. With regard to liability Do you have as Limited partner in a KG the advantage of being liable only with the agreed deposit. As Complementary person is your personal and unlimited liability, but also takes on the decision-making function.
In all partnerships, the shareholders have unlimited and personal liability, i.e. with private assets. Be an exception legal entitieswho establish a GbR and are not liable with their private assets. This could be two limited liability companies, for example. At the GmbH & Co. KG provides the limited partner Dar. Because it is only liable with its capital, GmbH & Co. KG is virtually limited in liability.
What taxes do they pay?
Partnerships also pay the Business tax, where she goes to Allowance of 24,500 euros may be subject to. The profit is calculated on the basis of Income tax law determines, but taxes the company itself, and not the shareholders. Business tax is only waived for partnership companies. For the Income and inheritance tax Will they Shareholders as natural persons considered.
Only with the sales tax Does the apply Company as a legal object. Inheritance tax becomes relevant when parts of society are inherited. Since the income of shareholders cannot be claimed as operating expenses for tax, the tax burden may be higher.
