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General partners can apply for ACS; that is where property and money are put collectively and managed on behalf of the partners. The companions find yourself co-proudly owning the belongings but solely should pay tax on their share of any earnings. They haven’t any operation control and might’t actively handle the business.

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McKinsey Quarterly Our flagship business publication has been defining and informing the senior-management agenda since 1964. McKinsey Global Institute Our mission is to assist leaders in a number of sectors develop a deeper understanding of the worldwide economy. We use cookies essential for this site to perform properly.Please click “Accept” to assist us improve its usefulness with additional …

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