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A limited liability company and limited partnership, abbreviated in German as GmbH & Co. KG, is a special form of limited partnership (KG). The GmbH & Co. KG combines two legal forms: the GmbH as a corporation and the KG as a partnership. There are two types of partners in a KG.
Apr 3, 2024 · In German corporate law, as the name suggests, the GmbH & Co. KG is a hybrid of the legal forms of the GmbH (limited liability company) and the Kommanditgesellschaft (KG) limited partnership. But, despite this hybrid form, the GmbH & Co. KG is still a KG (limited partnership) and, therefore, is categorised as a Personengesellschaft (partnership ...
The trade tax rate varies depending on the municipality where the GmbH & Co. KG is located. However, there is an allowance of €24,500 that is applied to the trade income. c. Value-Added Tax (VAT) The GmbH & Co. KG is subject to VAT and must charge and remit VAT on its supplies and services.
The GmbH & Co. KG is a special legal form which is partially comparable with the USA’s Limited Liability Company (LLC). This form of company unites the tax advantages and company law advantages of a corporation and a personal company. Precisely speaking, it is in fact two companies: a GmbH as a limited liability corporation and a limited ...
Apr 3, 2024 · Co KG GmbH: A Guide to Company Registration in Germany. 03/04/2024. GmbH & Co. KG is a hybrid form of company in Germany that combines features of both a GmbH and a KG. The GmbH acts as the general partner with unlimited liability, while the limited partners have liability limited to their contributions. This structure offers a unique blend of ...
It combines the advantages of a limited liability company (GmbH) with those of a limited partnership (KG), making it a flexible business structure with limited liability. In this article, we explore the legal specifics and benefits of this corporate form. Basics of a GmbH & Co. KG. The GmbH & Co. KG consists of two main components:
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Tax liability of GmbH & Co. KGs. A GmbH & Co. KG is liable to pay business taxes including trade tax (for which it is entitled to a tax free limit of 24.500 euros), as well as income tax and VAT to the tax office. Since it is a partnership, income tax is calculated on the profit of the limited partners and must be paid directly by them.
