Partners’ Capital Deferred Compensation on Restricted Unit

The amount of partners' deferred compensation amortized during the year on restricted units. All partners include general, limited and preferred partners. Limited liability partnerships (LLPs) are formed in accordance with the laws of the state in which such entities are organized. Because those laws are not uniform, the characteristics of LPCs vary from state to state. However, LLPs generally have the following characteristics: An LLP is an unincorporated association of two or more "persons"; Its members have limited personal liability for the obligations or debts of the entity; It is classified as a partnership for federal income tax purposes.