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Articles of Partnership

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Articles of Partnership
A document outlining the basic functions of a company. Among other things, it states each partner's responsibilities, how profits are to be divided, and the type of business the partnership creates. Persons or companies that seek to form a partnership must file articles of partnership with the appropriate authority, which, in the United States, is usually the state in which the partnership is located. Articles of partnership are also called partnership agreements.
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The articles of partnership stipulated the distribution of profits and losses based on percentage of investment and risk taken.
Acme Homebuilders by Steve Boymel / News, opinion and commentary community
At the end of the 30*year period, the articles of organization, similar to articles of incorporation for a C or S corporation and articles of partnership for a partnership, may be renewed by amendment or net assets can be transferred to a sister LLC or partnership.
Tax aspects of limited liability companies: is the LLC a ... by Price, Charles E. / Journal of Accountancy
 
 
 
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