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partnerships

A partnership is the relationship between two or more persons who work to carry on a trade or business. Each person contributes money, property, labor or skill, and expects to share in the profits and losses of the business.
There are generally two types of partnerships: general partnerships and limited partnerships. In a general partnership all partners have personal liability for the obligations of the partnership. In a limited partnership, there is typically (1) a general partner who manages the business and has personal liability for the obligations of the partnership, and (2) one or more limited partners who do not participate in the management of the business, and whose liability for the obligations of the partnership is limited to the partner’s capital contribution.
A partnership must file an annual information return to report the income, deductions, gains, losses, etc., from its operations, but it does not pay income tax. Instead, any profits or losses pass through to its partners. Each partner includes their share of the partnership's income or loss on their tax return.
Partners are not employees and should not be issued a Form W-2. The partnership must furnish copies of Schedule K-1 (Form 1065) to the partners by the date Form 1065 is required to be filed, including extensions.



State Statutes for the State of Texas

CHAPTER 152 - GENERAL PARTNERSHIPS

(1) the partnership business; or (2) business of the kind carried on by the partnership. (1) in the ordinary course of business of the partnership; or to carry on the business in partnership with that partner; PERSONS ELIGIBLE TO WIND UP PARTNERSHIP BUSINESS.

CHAPTER 405 - SECRETARY OF STATE

HUMAN TRAFFICKING PREVENTION BUSINESS PARTNERSHIP. (a) In this section, "partnership" means the human trafficking prevention business partnership. state by rule shall establish and implement a program designated as the human trafficking prevention business partnership to engage participating corporations and other private entities in voluntary efforts to

CHAPTER 154 - PROVISIONS APPLICABLE TO BOTH GENERAL AND LIMITED PARTNERSHIPS

(d) Sections 9.406 and 9.408, Business & Commerce Code, do not apply to a partnership interest in a BUSINESS TRANSACTIONS BETWEEN PARTNER AND PARTNERSHIP. Except as otherwise provided by the partnership agreement, a partner may lend money to and transact other business with the partnership.

CHAPTER 153 - LIMITED PARTNERSHIPS

(B) an election to reconstitute the limited partnership or continue the business of the limited partnership (2) the winding up of the partnership business. (C) any other known place of business of the limited partnership. (3) any other place of business of the limited partnership. (A) continue the business of the limited partnership; and

CHAPTER 2055 - GROUP PURCHASE OF WORKERS' COMPENSATION INSURANCE COVERAGE

business entity" means a business enterprise owned by a single person or a corporation, organization, business trust, trust, partnership, joint venture, association, or other business entity.

CHAPTER 2006 - AGENCY ACTIONS AFFECTING SMALL BUSINESSES AND RURAL COMMUNITIES

(1) "Micro-business" means a legal entity, including a corporation, partnership, or sole proprietorship (2) "Small business" means a legal entity, including a corporation, partnership, or sole proprietorship (2) "Small business" means a legal entity, including a corporation, partnership, or sole proprietorship

CHAPTER 277 - BUSINESS CHECKING ACCOUNTS

(1) "Business" means a legal entity, including a corporation, partnership, or sole proprietorship, that

CHAPTER 31 - SUBSURFACE EXCAVATIONS

" means an individual, corporation, organization, government or governmental subdivision or agency, business trust, partnership, association, or any other legal entity.

Federal Statutes

§ 1161c. Business workforce partnerships for job skill training in high-growth occupations or industries

Act (including titles I and II [29 U.S.C. 3111 et seq., 3271 et seq.]), to help create and sustain business and industry workforce partnerships at institutions of higher education; and and (iii) where applicable, one or more labor organizations that represent workers locally in the businesses or industries that are the focus of the partnership, including as a result of such an organization’s

Part C—Business Workforce Partnerships for Job Skill Training in High-Growth Occupations or Industries (§ 1161c)

Business workforce partnerships for job skill training in high-growth occupations or industries

§ 2502. Definitions

business association” means any corporation (other than a public corporation), joint stock company, business trust, partnership, or any association for business purposes of two or more individuals; and

§ 77r–1. Preemption of State law

Any person, trust, corporation, partnership, association, business trust, or business entity created Any person, trust, corporation, partnership, association, business trust, or business entity created , association, business trust, or business entity, such securities that are— related securities by any person, trust, corporation, partnership, association, business trust, or business related securities by any person, trust, corporation, partnership, association, business trust, or business

§ 2279aa–12. Securities in credit enhanced pools

, association, business trust, or business entity created pursuant to or existing under the laws of the , association, business trust, or business entity, securities or obligations of a certified facility , association, business trust, or business entity, or class thereof, in any State that, prior to the , association, business trust, or business entity, or class thereof, than is provided in paragraphs ( , association, business trust, or business entity, or class thereof, in any State that, prior to the

SUBCHAPTER IX—ADDITIONAL PROGRAMS (§§ 1161a – 1161aa–1)

Part C—Business Workforce Partnerships for Job Skill Training in High-Growth Occupations or Industries

§ 8531. Definitions

(A) a natural person, corporation, company, business association, partnership, society, trust, or any

§ 4801. Definitions

(B) any corporation, business association, partnership, trust, society or any other entity or group (B) a corporation, business association, partnership, society, trust, financial institution, insurer , underwriter, guarantor, and any other business organization, any other nongovernmental entity, organization