Changes

This word has many meanings.  This article contemplates its use to describe a form of business entitiy.

The term '''partnership''' has many meanings.  This article contemplates its use to describe a form of business entity.

A partnership occurs when two or more individuals formally agree to conduct a business together.  Partners do not have to contribute equally to the business nor do they necessarily participate in the profits equally.

A partnership occurs when two or more individuals formally agree to conduct a business together.  Partners do not have to contribute equally to the business nor do they necessarily participate in the profits equally.

A partnership agreement will normally describe:

A partnership [[agreement]] will normally describe:

  - The nature of the business to be conducted

  - The nature of the business to be conducted

     or disability of a partner

     or disability of a partner

Partnerships are not normally taxed, per se, but partners are taxed on their share of the partnerships profits.  A taxable share of profits is can be significantly less that cash received, and this is more likely to be true in the early stages of the business with cash is required to finance working capital and growth.

Partnerships are not normally taxed, per se, but partners are taxed on their share of the partnerships profits.  A taxable share of [[profit]]s is can be significantly less that cash received, and this is more likely to be true in the early stages of the business with cash is required to finance working capital and growth.

[[Category:Business]]

[[Category:Business]]