At least one general partner with unlimited liability, and limited partners whose liability is capped at what they put in. Requires a state filing, unlike a general partnership.
No recurring filing with the Secretary of State. Tax filings are separate and are not covered here.
No annual report (statutory exemption). South Dakota limited partnerships are exempt from the annual report by name.
The deadlines above are the rules. Your actual dates depend on when you form, so the calendar is built from your formation date — free, no account.
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