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Recent General Partnership questions

My roommate and I would like to start a general partnership

My roommate and I would like to start a general partnership so that we can make money together on projects we collaborate on as well as still do our own freelance work. However, the developer lives in Canada that we would also be working with occasionally. Since it's just a partnership and we aren't forming an LLC or anything - do we have to claim anything on our taxes saying that he was paid? Or can we just send it to one bank account and then pay him through PayPal or some similar system?JA: Can you tell me what state the LLC is registered in?Customer: OhioJA: Has anything been filed or reported?Customer: NoJA: Anything else you want the lawyer to know before I connect you?Customer: No

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INFOLAWYER

Attorney

Juris Doctor.

42,494 satisfied customers
I have a corporation that has taken on a DBA (filed the

I have a corporation that has taken on a DBA (filed the proper paper work with the County) of my previous general partnership. Since the general partnership wasn't registered with the state. Do I Just update the bank account info as my corp having ownership of the account and provide them the DBA to keep the same name on the account? CA and a C-Corp.

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Loren

Juris Doctor

43,784 satisfied customers
My brother and I plan on opening up a small business. We

My brother and I plan on opening up a small business. We will be using our last name to name the business. In the state of California, do we need to register our partnership? Is this considered a general partnership?

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Richard - Bizlaw

Juris Doctor

11,490 satisfied customers
I have had an EIN since February of 2014 I now know it's

I have had an EIN since February of 2014 I now know it's better for me too have my business be an LLC I have not done anything under the EIN what I need to know is what do I need to do to change it from General partner to LLC When the IRS mailed me the paperwork it contained my name, my DBA they also made reference to use that format when I would need to do any type of paperwork involved my business any type of invoices the general partner is also listed in the format and the EIN they had me listed under General partner now I have a dilemma because a.m. getting ready to open a storefront and will B also having an opportunity 2 become partial owner of a business that's right next door being developed into a salon my business for the most part will be a beauty supply store so ultimately I need to know can I just go ahead with the plans that I already have and switch from General partner to LLC or it might want to have to notify the IRS about something

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KJLLAW

Juris Doctorate

2,392 satisfied customers
General partnership set up in PA. 3 partners What steps do I

General partnership set up in PA.3 partnersWhat steps do I need to take to keep the partners protected from each other's personal liabilities?Also what steps to protect the company from the personal liabilities of the partners?

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Law Educator, Esq.

Attorney At Law

Doctoral Degree

116,782 satisfied customers
I have a general partnership (with some investors) in state

I have a general partnership (with some investors) in state of Pennsylvania filed as an LLC.Could I open a factitious name under this and register that as a restricted professional limited liability company or would I need to create a separate new entity?Can a restricted professional limited liability company have partners that are not professional in it, or is this exclusive to members who hold the professional license?

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Damien Bosco

Attorney

Doctoral Degree

3,862 satisfied customers
I'm one of three in a general partnership. Two want out and

I'm one of three in a general partnership. Two want out and I agreed to buy there respective 33-1/3% interest for a fair price. One of my partners believes the business must be dissolved and the assets sold for fair market value. I want to continue business - my partners don't - can we hire a lawyer to draw a contract that exchanges respective interest (including all future liabilities) for cash. Would that be sufficient to separate from my partners?

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AttyHeather

Attorney

Juris Doctorate

1,426 satisfied customers
I own 45% of a company and was acting COO for the past 10

I own 45% of a company and was acting COO for the past 10 months. My business partner (55%) is changing the direct of the company so I am resigning and going to be a 45% silent owner. How do I get paid? And what? We have no operating agreement.. we sell about 1k worth of goods a month.

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Asad Rahman

Attorney

J.D.

4,702 satisfied customers
I am starting a new business and I am unsure what I should

I am starting a new business and I am unsure what I should become..I am a sole proprietor now, we want to become a LLC .Can you help me with the process? And is an LLC what I should become?We are opening a mobile bike shop which will someday be a brick and mortar bike shop.I want to be sure what I should become and how to do it.Thanks

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Richard

Owner

Doctoral Degree

49,606 satisfied customers
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