A Polish hybrid: the limited joint-stock partnership or LJSP

This article deals with the taxation of income of shareholders in a hybrid vehicle created in Poland called the limited joint-stock partnership or LJSP, which has been described as a potential "new tax haven in Poland." This unique form of organization was recently officially recognized by Poland's Supreme Administrative Court on Jan 16, 2012. The LJSP is a uniquely Polish legal creation or hybrid combining essential elements of both a general partnership and a joint-stock company (JSC). Along with the traditional Limited Liability Company (LLC), the JSC is one of the main types of legal entities in Poland and has been a mainstay of Poland's economic and political transformation. The JSC may be established by one or more individuals or corporate entities, with the exception that an LLC with a sole shareholder may not establish a JSC.