Do I need to file papers for a partnership?

[mike]

Do I have to file papers with the government for a partnership? I know that I have to file papers for a corporation.

 

[Michael Wechsler]

You don't have to file papers to create a partnership, however, it is very wise to create a written agreement as to partners which explicitly spells out the terms. For example, you want to state what share each partner has in the partnership, management and control issues, revenue distribution, and more. Note that you may probably need to file a "doing business as" form at your local county clerk if you are doing business under an assumed name.

We will have a Partnership FAQ available shortly here.