Nevada (88) Foreign Limited-Liability Limited Partnership Registration(NRS CHAPTER88) is a type of business entity registered in the state of Nevada. It is a form of limited partnership which allows for limited liability amongst the partners in the partnership. The primary benefit of this type of registration is that it limits the individual partner’s liability to the assets of the partnership, allowing the partners to have limited financial liability in the event of a lawsuit or other claims against the partnership. There are two types of Nevada (88) Foreign Limited-Liability Limited Partnership Registration(NRS CHAPTER88): domestic registration and foreign registration. Domestic registration requires that all members of the partnership must be Nevada residents, while foreign registration requires that at least one partner must be a foreign entity or nonresident. Partners with a foreign registration are not subject to income tax in Nevada. This form of registration is beneficial for businesses that are seeking to form a partnership in Nevada, but want to limit their liability. It is also beneficial for businesses that are conducting business outside of Nevada, as foreign registration allows for the avoidance of double taxation of corporate income.