Zefram wrote:
Ed Murphy wrote:A partnership's basis is the set containing its natural-person members, plus each member of the basis of each of its non-natural-person members.Yay. This is the right way to do it. The reason your original "Limited Partnerships" proposal failed to prevent a repeat of the HP13 scam was that it attempted to define "person" such that only natural persons could be members of partnerships, but that amendment failed due to insufficient power. I'm glad it failed, because having partnerships as members of partnerships is a useful structure that is not otherwise problematic.
Ah yes, that was a serendipitous accident.
