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At United States common law, a partnership is terminated when there is some change in its ownership (e.g., if a partner leaves, dies, becomes bankrupt, or a new partner is admitted, etc). But the partners can provide for the continuation of the partnership by agreeing to continue as a partnership, or in advance, by providing for continuation in the partnership agreement. However, if the change in the original composition of the partnership leaves only one partner left, the partnership becomes a sole proprietorship by operation of law.
In the United States, a corporation is a separate legal entity that has been registered with a particular state, and when the owners wish to terminate its existence, they must file formal corporate dissolution papers with the Secretary of State of the state of incorporation. They will also be expected to file all tax returns covering the periods up to the date of dissolution.
What else can I help you with?
What is the least common a corporation sole proprietorship partnership or limited corporation?
partnership
What is the advantage of a partnership over a corporation?
One advantage of a partnership over a corporation is that partnerships have simpler and more flexible management structures, allowing partners to make decisions more quickly and easily.
Compare and contrast partnerships and corporations?
compare and contras partnership and corporation
What is the primary disadvantage of both sole proprietorship and a partnership that a corporation overcomes?
A
What are the money and other valuables belongs to a corporation or partnership called?
Assets
Can a partnership have directors?
Where a corporation is a partner in a partnership, the corporation's directors can have an indirect effect on the partnership.
What is the least common a corporation sole proprietorship partnership or limited corporation?
partnership
Is a partnership or corporation?
T-Mobile is a Corporation.
Can a corporation be a partner in a partnership?
Yes. A corporation is an artificial person but is a person according to the law and thus can be a partner in a partnership.
Is T-Mobile a Partnership or Corporation?
T-Mobile is a Corporation.
Is taco bell a partnership corporation?
no.
Is apple still a partnership 2014?
Apple Incorporated is a Corporation with stockholders it is not a partnership.
Can a partnership be a stockholder in corporation?
Yes, a partnership can be a stockholder in a corporation. In this case, the partnership would typically hold shares in the corporation as an entity, rather than individual partners holding shares personally. The partnership's ownership interest would be represented by the shares it holds, and any distributions or profits would be allocated according to the partnership agreement.
Can a trust be a partner within a partnership?
yep trust is the main thing in your relationship
Can as s corporation be a partner in a partnership?
It is possible for an s-corporation to be a partner in a partnership. You should check with a legal authority to see if there are any special requirements to affect this status for the s-corporation.
What has best tax advantages a Partnership or corporation?
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Can a partnership issue stock?
That depends on the type of partnership. If it's a corporation then yes. If it's an LLC then no.
