The difference between a limited company and a partnership

A partnership company refers to an enterprise organization form in which natural persons, legal persons and other organizations are established in China in accordance with the Partnership Enterprise Law of People's Republic of China (PRC), and two or more natural persons enter into a partnership agreement, * * * jointly contribute to the operation, * * * assume sole responsibility for profits and losses, and * * * bear risks. Generally speaking, a partnership company cannot obtain the qualification of a person and does not pay income tax, but pays personal income tax. There are general partnerships and limited partnerships. Among them, general partnership companies also include special general partnership companies. A limited liability company refers to an economic organization registered in accordance with the Regulations of the People's Republic of China on the Administration of Company Registration, and established with the contribution of shareholders with less than 50 employees. Each shareholder shall bear limited liability to the company with the amount of capital contribution subscribed by him, and the company shall bear liability for its debts with all its assets. Limited liability companies include wholly state-owned companies and other limited liability companies. The above is the answer to the difference between a limited liability company and a partnership. I hope this helps.