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General Partnerships

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    Rosemarie T.
    PH
    Rosemarie T.

    General Partnerships -Legal requirements -Legal Recommendations -Financial Status -Taxation -Liability

    Rosemarie T.
    PH
    Rosemarie T.

    General Partnerships -Legal requirements -Legal Recommendations -Financial Status -Taxation -Liability

    Tavishi J.
    IN
    Tavishi J.

    you haven't exactly talked about taxation and financial status

    Poe Shwe Sin O.
    MM
    Poe Shwe Sin O.

    General Partnerships -Legal requirements -Legal Recommendations -Financial Status -Taxation -Liability

    R.d.t prrlltll P.
    PK
    R.d.t prrlltll P.

    partnership redacting rehearsed probe acclaimed digest of economic social client network to brought progress essential varied begat tendency agreed bogus thus compile term 'business' hence-oaks cooperative association

    Abdul Kareem M.
    SA
    Abdul Kareem M.

    A lot of information to digest ,but well worth it.

    Abdul Kareem M.
    SA
    Abdul Kareem M.

    What if you or your partner dies and the living partner wanted to continue the partnership does it still have to go into dissolution?

    Christine K.
    US
    Christine K.

    General partnerships are taxed like sole proprietorships. Each of the partners will be taxed upon his or her share of the income from the partnership. (Source: http://www.obliviousinvestor.com/how-are-partnerships-taxed/)

    Akash B.
    US
    Akash B.

    I am quite confused. If a general partnership is two or more people, does that mean a business of five hunded people is considered a business partnership? Also, if I am in a business with one other person and someone sues us for ten thousand dollars, do each of us pay $500 or do I pay one thousand dollars and my partner pays one thousand dollars in which case would the person sueing us not get double the amont he or she sued us for?

    Akash B.
    US
    Akash B.

    Also, if I have a partnership of say five hundred people, and one of those five hundred people dies or goes bankrupt, would the partnership go through dissolution? If so, what does that mean for the rest of the company?

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