partnership account

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Partnership Account

An account at a brokerage held by two or more people in which each person is equally liable. The account holders may or may not have a written agreement on the rights and obligations each one has in the partnership account. This is similar to a joint account, but is used mainly for business partnerships, rather than for married couples who are investing.

partnership account

A brokerage account in which two or more individuals are equally liable. A partnership account differs from a joint account in that the partnership account may include a written agreement defining the interest of each partner.
References in periodicals archive ?
Today, the Toyota/NCFL partnership accounts for 261 family literacy sites in 52 communities and 30 states.
University of Wales Newport graduate Liz Thorne, who most recently worked for a firm of accountants in Canberra, Australia, joins as accounts assistant, working on the preparation of company, sole trader and partnership accounts.
8807, a partner is entitled to "a settlement of all partnership accounts upon winding up the partnership business.
They must therefore make sure that their professional advisers have the capability to ensure that partnership accounts are prepared and agreed and the partnership tax return and the individual tax returns completed and agreed.
To reach this conclusion, the court focused on three main points: (1) the trust and LLC received partnership interests proportionate to the assets each contributed; (2) the partnership accounts were properly credited; and (3) the partnership agreement required distributions on termination or liquidation according to the partner's capital balances.
But within the last few months, discrepancies had been alleged in the partnership accounts, and this businessman had been accused of dishonest dealings.
hires Jim Gerardot as executive director of animal health and productivity, Gunter Hess as director of animal health e-commerce operations and Victor Wright as director of animal health and productivity partnership accounts.
An orderly transition to comply with the new withholding and reporting requirements will also include a thorough review of current forms for partnership accounts, as wed as evaluation of hardware and software in current automated systems.
The Fund's strategy was first conceived by Advisory Research for use in two limited partnership accounts, which were launched in 2003.
Although the partnership accounts suggest that the cattle forming the herd were the sole property of Nicholas at the start of the partnership, this is incorrect and the herd was owned jointly, the writ alleged.
Online corporate and partnership accounts are relatively rare.

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