Pre-Partnership Kits

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Useful tools for determining the details of a partnership's purpose, structure and governance prior to its formation.

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This Pre-Partnership Kit will help the partners determine the details of a partnership's purpose, structure and governance prior to formation. By completing these worksheets, potential business owners will have all the basic information necessary to prepare the partnership paperwork. Having clear and written information will act as a permanent record and could provide vital support for later decisions that may be required.

This your state Pre-Partnership Kit includes the following:
  • Pre-Partnership Worksheet
  • Pre-Partnership Checklist
  • State Law Digest Links for Partnerships

Protect yourself, your rights and your business by using our professionally prepared up-to-date forms.

This attorney-prepared packet contains:
  1. Instructions and Checklist
  2. General Information
  3. Pre-Partnership Kit for use in your state
State Law Compliance: This form complies with the laws of your state
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.












Pre-Partnership Kit







This Packet Includes:


1. General Instructions and Checklist
2. Information
3. Pre-Partnership Worksheet
4. Pre-Partnership Worksheet
5. Pre-Partnership Checklist



Instructions and Checklist
Pre-Partnership Kit

   Partnership Name: The selection of a name is often crucial to the success of a partnership.  The name must not conflict with any existing company names, nor can it be deceptively similar to other names.  It is often wise to clearly explain the business of the partnership through the choice of name.  Many states require or allow the registration of the use of a fictitious partnership name.  For more information about your state, please see our State Law Digest at the web address above.

   Parties involved:   Provide the names, addresses, and phone numbers of all of the people who are involved in the planning stages of the partnership.

   Principal place of business:   This must be the address of the actual physical location of the main business.  It may not be a post office box.  If the partnership is home-based, this address should be the home address.

   Purpose of the Partnership:  Here you may note the specific business purpose of the partnership.  In your Partnership Agreement you will also note that your partnership has a general purpose of engaging in any and all lawful business in the state in which you operate.

   State/local licenses required:  Here you should note any specific requirements for licenses to operate your type of business.  Most states require obtaining a tax ID number and a retail, wholesale, or sales tax license.  A Federal tax ID number must be obtained by all partnerships.  Additionally, certain types of businesses will require health department approvals, state board licensing, or other forms of licensing.  If necessary, check with a competent local attorney for details regarding the type of licenses required for your locality and business type.

   Patents/copyrights/trademarks:  If patents, copyrights, or trademarks will need to be transferred into the partnership, they should be noted here.



   State of partnership:  In general, the partnership should be begun in the state in which it will conduct business.

   Proposed date to begin partnership business:  This should be the date on which you expect the partnership to begin its legal existence.

   Duration of partnership:  Decide if the partnership is to be for a certain term, to end on a certain date, or to continue until the partners death.



   Initial investment:  This figure is the total amount of money or property that will be transferred, or services that will be rendered to the partnership by each partner upon the beginning of partnership business.  List also the dates on which the contributions must be made.

   Additional contributions by partners:  If there are to be planned additional partner contributions of money, services, or property, list them here.

   Share of profits and losses:  Under this heading, list the proportionate share of the profits and losses of the partnership for each partner.  The shares can be equal or related to the proportionate contributions of each partner.

   Distribution of profits and losses:  Here decide how the partnership will distribute its profits and cover its losses.  If the partnership will retain a portion of the profits for reinvestment, note that here.

   Initial indebtedness:  If there is to be any initial indebtedness for the partnership, please list here.

   Management of the partnership:  If the business will be managed equally or in differing proportions by the partners, note that here.  If one or more partners will be appointed as managing partners, also make note of that decision.

   Date of first partnership meeting:  This will be the date proposed for holding the first meeting of the partnership.

   Proposed bank for partnership bank account:  In advance of partnership, you should determine the bank that will handle the partnership account.  Obtain from the bank the necessary bank paperwork that will be signed by partners at the first partners meeting.

   Cost of setting up partnership:  This cost should reflect the cost of obtaining professional assistance (legal and accounting); the cost of procuring the necessary supplies; and any other direct costs of the partnership process.

   Required quorum for a partnership meeting:  This is the percentage of partners who must be represented at a partnership meeting in order to officially transact any partnership business.  This is normally a “majority” (over 50 percent), although this figure can be set higher.



   Annual partnership meeting:  The date, time, and place of the annual partnership meeting should be specified.

   Required vote for partnership action:  Once it is determined that a quorum of partners is present at a meeting, this is the percentage of partners that must vote in the affirmative in order to officially pass any partnership business.  This is normally a “majority” (more than 50 percent), although this figure can be set higher and can be made to be unanimous for certain items or even for all partnership decisions.  Note any such provisions here.



   Fiscal year and accounting type:  For accounting purposes, the fiscal year and accounting type (cash or accrual) of the partnership should be chosen in advance.  Please consult with a competent accounting professional.

   Financial authority:  Here list the authority of each proposed partner to sign checks, borrow money in the partnerships name, or sign documents in the name of the partnership.

   Loans to partners:  In this item, decide if you wish the partnership to have the ability to make loans directly to the partners.

   Salaries to partners:  Here you should decide if the partners will earn a salary for their work on behalf of the partnership.

   Draws to partners:  In this listing, make note of the ability of partners to obtain draws against their individual shares of the annual profits of the partnership.  These draws can be monthly, quarterly, annual, or on some other basis.

   Partner expense accounts:  Here note if partners are allowed expense accounts for the normal expenses of the business.  If so, note the maximum monthly amount of the expense account.

   Transfer of partnership interests:  Under this listing, a decision should be made as to whether and how partners are allowed to transfer their ownership interest in the partnership.  This may range from “not at all” to “freely” or may be by unanimous or majority consent of the other partners.

   Expulsion of partners:  Here you should consider the terms and conditions for removing a partner.



   Insurance:  Under this heading, consider the types of insurance that you will need, ranging from general casualty to various business liability policies.  Also consider the need for the partners or the partnership to provide the partners with life and/or disability insurance.

   New partners:   Will new partners be allowed into the partnership?  Here note the terms and conditions for their entry.

   Termination of partnership:  How will the partnership end? Here list any considerations relating to the dissolution of the partnership that you may wish to be considered.

   Amendments to partnership agreement:  Here should be the determination of how to amend the Partnership Agreement.

   Following the Pre-Partnership Worksheet is a Pre-Partnership Checklist.  Please use this checklist to be certain that you have completed all of the necessary steps for beginning a partnership.  Once all of the persons involved in the partnership have completed the Pre-Partnership Worksheet, agreed on all of the details, and reviewed the Pre-Partnership Checklist, the actual process of drafting the Partnership Agreement may begin.  Have the completed Pre-Partnership Worksheet before you as you prepare your Partnership Agreement.







General Information
Pre-Partnership Kit

This kit provides tools for determining the details of a partnerships purpose, structure and governance prior to formation.

By completing the Pre-Partnership Kit, potential business owners will be able to have before them all of the basic data to use in preparing the necessary partnership paperwork.  The process of preparing this worksheet and checklist will also help uncover any potential differences of opinion among the persons who desire to form the partnership.  Often, conflicts and demands are not known until the actual process of determining the partnership structure begins.  Frank discussions regarding the questions of voting rights, division of profits and losses, and other management decisions often will enable potential associates to resolve many of the difficult problems of partnership operation in advance.  The use of written worksheets will also provide all persons involved with a clear and permanent record of the information.  This may provide the principals of the partnership with vital support for later decisions that may be required.

Note:  Please note that our State Law Digest contains a brief overview of state laws regarding the formation and operation of partnerships. For your convenience, links to the digest are provided in Appendix A.  You can get further state-specific information at your Secretary of States website (For a list of web addresses, see www.findlegalforms.com)







DISCLAIMER:

FindLegalForms, Inc. (“FLF”) is not a law firm and does not provide legal advice.  The use of these materials is not a substitute for legal advice. Only an attorney can provide legal advice.  An attorney should be consulted for all serious legal matters.  No Attorney-Client relationship is created by use of these materials.  

THESE MATERIALS ARE PROVIDED “AS-IS.  FLF DOES NOT GIVE ANY EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY, SUITABILITY OR COMPLETENESS FOR ANY OF THE MATERIALS FOR YOUR PARTICULAR NEEDS.  THE MATERIALS ARE USED AT YOUR OWN RISK.  IN NO EVENT WILL:  I) FLF, ITS AGENTS, PARTNERS, OR AFFILIATES; OR II) THE PROVIDERS, AUTHORS OR PUBLISHERS OF ITS MATERIALS, BE RESPONSIBLE OR LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES (INCLUDING, BUT NOT LIMITED TO, PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES; LOSS OF USE, DATE OR PROFITS; OR BUSINESS INTERRUPTION) HOWEVER USED AND ON ANY THEORY OF LIABILITY, WHETHER IN CONTRACT, STRICT LIABILITY, OR TORT (INCLUDING NEGLIGENCE OR OTHERWISE) ARISING IN ANY WAY OUT OF THE USE OF THESE MATERIALS.


 
Pre-Partnership Worksheet

Proposed Name of the Partnership

First choice:    

Alternate choices:    
   Parties Involved in Forming the Partnership

   Name   Address         Phone
_______________________    ________________________     __________________________
_______________________    ________________________     __________________________
_______________________    ________________________     __________________________
_______________________    ________________________     __________________________
_______________________    ________________________     __________________________
_______________________    ________________________     __________________________


Location of Business
Address of principal place of business:       

Description of principal place of business:    
   

Ownership of principal place of business (own or lease?):     
   

Other places of business:    
      


Type of Business

Purpose of business:       

State/local licenses required:    

Patents/copyrights/trademarks:    
Partnership Matters
 
State of organization:    

Proposed date to begin partnership business:    

Duration of partnership:    

Initial investment total:  $   ________________
Date when due:   ________________      

Name   Cash/Property/Services     Value
____________________    _____________________________________    _________________
____________________    _____________________________________    _________________
____________________    _____________________________________    _________________
____________________    _____________________________________    _________________
____________________    _____________________________________    _________________
____________________    _____________________________________    _________________

Additional contributions: $ ________________
Date when due:     ________________

  Name   Cash/Property/Services     Value
____________________    _____________________________________    _________________
____________________    _____________________________________    _________________
____________________    _____________________________________    _________________
____________________    _____________________________________    _________________
____________________    _____________________________________    _________________
____________________    _____________________________________    _________________

Partners share of profits and losses:

  Name     Proportionate Share of Profits and Losses   
__________________________________________       ________________________________________________
__________________________________________       ________________________________________________
__________________________________________       ________________________________________________
__________________________________________       ________________________________________________

Distribution and retention of profits and losses:     

Initial indebtedness:  $ _________________

Management of the partnership:

  Name   Proportionate Share of Management   
__________________________________________       ________________________________________________
__________________________________________       ________________________________________________
__________________________________________       ________________________________________________
__________________________________________       ________________________________________________

Managing partner (if any):          

Proposed date of first partnership meeting:                         

Proposed bank for partnership bank account:    

Cost of setting up partnership:    

Required quorum for partnership meeting:    

Annual partnership meeting:

   Place     Date   Time ______________________________________      ____________________       _____________

Required vote for partnership actions (majority/%/unanimous):     

Fiscal year:     

Accounting type (cash or accrual?):     

Financial authority:

  Name      Authority to Do
___________________________________      ________________________________________

Loans to partners:      

Salaries of partners:
Name        Salary
___________________________________      ________________________________________
___________________________________      ________________________________________
___________________________________      ________________________________________

Draws of partners:     

Partner expense accounts:     

Expulsion of partners:     

Insurance needs:    

New partners:    

Termination of partnership:    

Amendments to Partnership Agreement:    
   




Pre-Partnership Checklist


?    Complete Pre-Partnership Worksheet

?    Check annual fees and filing requirements, if any

?   Prepare Partnership Agreement

?    If desired, have attorney review Agreement prior to filing

?   Review tax impact of partnership with an accountant

?   Check state tax, employment, licensing, unemployment, and workers compensation requirements
   
?   Open partnership bank account

?    Check insurance requirements

?    Prepare partnership accounting ledgers

?   Prepare partnership record book (loose-leaf binder)

APPENDIX A
FindLegalForms.com
State Law Digest for Partnerships
Provided under agreement with copyright holder,
© Nova Publishing Company 2004

(Click on the appropriate state link below to access the states partnership law summary)

ALABAMA
ALASKA
ARIZONA
ARKANSAS
CALIFORNIA
COLORADO
CONNECTICUT
DELAWARE
DISTRICT OF COLUMBIA
FLORIDA
GEORGIA
HAWAII
IDAHO
ILLINOIS
INDIANA
IOWA
KANSAS
KENTUCKY
LOUISIANA
MAINE
MARYLAND
MASSACHUSETTS
MICHIGAN
MINNESOTA
MISSISSIPPI
MISSOURI
MONTANA
NEBRASKA
NEVADA
NEW HAMPSHIRE
NEW JERSEY
NEW MEXICO
NEW YORK
NORTH CAROLINA
NORTH DAKOTA
OHIO
OKLAHOMA
OREGON
PENNSYLVANIA
RHODE ISLAND
SOUTH CAROLINA
SOUTH DAKOTA
TENNESSEE
TEXAS
UTAH
VERMONT
VIRGINIA
WASHINGTON
WEST VIRGINIA
WISCONSIN
WYOMING

Number of Pages10
DimensionsDesigned for Letter Size (8.5" x 11")
EditableYes (.doc, .wpd and .rtf)
UsageUnlimited number of prints
Product number#27372
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.












Pre-Partnership Kit







This Packet Includes:


1. General Instructions and Checklist
2. Information
3. Pre-Partnership Worksheet
4. Pre-Partnership Worksheet
5. Pre-Partnership Checklist



Instructions and Checklist
Pre-Partnership Kit

   Partnership Name: The selection of a name is often crucial to the success of a partnership.  The name must not conflict with any existing company names, nor can it be deceptively similar to other names.  It is often wise to clearly explain the business of the partnership through the choice of name.  Many states require or allow the registration of the use of a fictitious partnership name.  For more information about your state, please see our State Law Digest at the web address above.

   Parties involved:   Provide the names, addresses, and phone numbers of all of the people who are involved in the planning stages of the partnership.

   Principal place of business:   This must be the address of the actual physical location of the main business.  It may not be a post office box.  If the partnership is home-based, this address should be the home address.

   Purpose of the Partnership:  Here you may note the specific business purpose of the partnership.  In your Partnership Agreement you will also note that your partnership has a general purpose of engaging in any and all lawful business in the state in which you operate.

   State/local licenses required:  Here you should note any specific requirements for licenses to operate your type of business.  Most states require obtaining a tax ID number and a retail, wholesale, or sales tax license.  A Federal tax ID number must be obtained by all partnerships.  Additionally, certain types of businesses will require health department approvals, state board licensing, or other forms of licensing.  If necessary, check with a competent local attorney for details regarding the type of licenses required for your locality and business type.

   Patents/copyrights/trademarks:  If patents, copyrights, or trademarks will need to be transferred into the partnership, they should be noted here.



   State of partnership:  In general, the partnership should be begun in the state in which it will conduct business.

   Proposed date to begin partnership business:  This should be the date on which you expect the partnership to begin its legal existence.

   Duration of partnership:  Decide if the partnership is to be for a certain term, to end on a certain date, or to continue until the partners death.



   Initial investment:  This figure is the total amount of money or property that will be transferred, or services that will be rendered to the partnership by each partner upon the beginning of partnership business.  List also the dates on which the contributions must be made.

   Additional contributions by partners:  If there are to be planned additional partner contributions of money, services, or property, list them here.

   Share of profits and losses:  Under this heading, list the proportionate share of the profits and losses of the partnership for each partner.  The shares can be equal or related to the proportionate contributions of each partner.

   Distribution of profits and losses:  Here decide how the partnership will distribute its profits and cover its losses.  If the partnership will retain a portion of the profits for reinvestment, note that here.

   Initial indebtedness:  If there is to be any initial indebtedness for the partnership, please list here.

   Management of the partnership:  If the business will be managed equally or in differing proportions by the partners, note that here.  If one or more partners will be appointed as managing partners, also make note of that decision.

   Date of first partnership meeting:  This will be the date proposed for holding the first meeting of the partnership.

   Proposed bank for partnership bank account:  In advance of partnership, you should determine the bank that will handle the partnership account.  Obtain from the bank the necessary bank paperwork that will be signed by partners at the first partners meeting.

   Cost of setting up partnership:  This cost should reflect the cost of obtaining professional assistance (legal and accounting); the cost of procuring the necessary supplies; and any other direct costs of the partnership process.

   Required quorum for a partnership meeting:  This is the percentage of partners who must be represented at a partnership meeting in order to officially transact any partnership business.  This is normally a “majority” (over 50 percent), although this figure can be set higher.



   Annual partnership meeting:  The date, time, and place of the annual partnership meeting should be specified.

   Required vote for partnership action:  Once it is determined that a quorum of partners is present at a meeting, this is the percentage of partners that must vote in the affirmative in order to officially pass any partnership business.  This is normally a “majority” (more than 50 percent), although this figure can be set higher and can be made to be unanimous for certain items or even for all partnership decisions.  Note any such provisions here.



   Fiscal year and accounting type:  For accounting purposes, the fiscal year and accounting type (cash or accrual) of the partnership should be chosen in advance.  Please consult with a competent accounting professional.

   Financial authority:  Here list the authority of each proposed partner to sign checks, borrow money in the partnerships name, or sign documents in the name of the partnership.

   Loans to partners:  In this item, decide if you wish the partnership to have the ability to make loans directly to the partners.

   Salaries to partners:  Here you should decide if the partners will earn a salary for their work on behalf of the partnership.

   Draws to partners:  In this listing, make note of the ability of partners to obtain draws against their individual shares of the annual profits of the partnership.  These draws can be monthly, quarterly, annual, or on some other basis.

   Partner expense accounts:  Here note if partners are allowed expense accounts for the normal expenses of the business.  If so, note the maximum monthly amount of the expense account.

   Transfer of partnership interests:  Under this listing, a decision should be made as to whether and how partners are allowed to transfer their ownership interest in the partnership.  This may range from “not at all” to “freely” or may be by unanimous or majority consent of the other partners.

   Expulsion of partners:  Here you should consider the terms and conditions for removing a partner.



   Insurance:  Under this heading, consider the types of insurance that you will need, ranging from general casualty to various business liability policies.  Also consider the need for the partners or the partnership to provide the partners with life and/or disability insurance.

   New partners:   Will new partners be allowed into the partnership?  Here note the terms and conditions for their entry.

   Termination of partnership:  How will the partnership end? Here list any considerations relating to the dissolution of the partnership that you may wish to be considered.

   Amendments to partnership agreement:  Here should be the determination of how to amend the Partnership Agreement.

   Following the Pre-Partnership Worksheet is a Pre-Partnership Checklist.  Please use this checklist to be certain that you have completed all of the necessary steps for beginning a partnership.  Once all of the persons involved in the partnership have completed the Pre-Partnership Worksheet, agreed on all of the details, and reviewed the Pre-Partnership Checklist, the actual process of drafting the Partnership Agreement may begin.  Have the completed Pre-Partnership Worksheet before you as you prepare your Partnership Agreement.







General Information
Pre-Partnership Kit

This kit provides tools for determining the details of a partnerships purpose, structure and governance prior to formation.

By completing the Pre-Partnership Kit, potential business owners will be able to have before them all of the basic data to use in preparing the necessary partnership paperwork.  The process of preparing this worksheet and checklist will also help uncover any potential differences of opinion among the persons who desire to form the partnership.  Often, conflicts and demands are not known until the actual process of determining the partnership structure begins.  Frank discussions regarding the questions of voting rights, division of profits and losses, and other management decisions often will enable potential associates to resolve many of the difficult problems of partnership operation in advance.  The use of written worksheets will also provide all persons involved with a clear and permanent record of the information.  This may provide the principals of the partnership with vital support for later decisions that may be required.

Note:  Please note that our State Law Digest contains a brief overview of state laws regarding the formation and operation of partnerships. For your convenience, links to the digest are provided in Appendix A.  You can get further state-specific information at your Secretary of States website (For a list of web addresses, see www.findlegalforms.com)







DISCLAIMER:

FindLegalForms, Inc. (“FLF”) is not a law firm and does not provide legal advice.  The use of these materials is not a substitute for legal advice. Only an attorney can provide legal advice.  An attorney should be consulted for all serious legal matters.  No Attorney-Client relationship is created by use of these materials.  

THESE MATERIALS ARE PROVIDED “AS-IS.  FLF DOES NOT GIVE ANY EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY, SUITABILITY OR COMPLETENESS FOR ANY OF THE MATERIALS FOR YOUR PARTICULAR NEEDS.  THE MATERIALS ARE USED AT YOUR OWN RISK.  IN NO EVENT WILL:  I) FLF, ITS AGENTS, PARTNERS, OR AFFILIATES; OR II) THE PROVIDERS, AUTHORS OR PUBLISHERS OF ITS MATERIALS, BE RESPONSIBLE OR LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES (INCLUDING, BUT NOT LIMITED TO, PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES; LOSS OF USE, DATE OR PROFITS; OR BUSINESS INTERRUPTION) HOWEVER USED AND ON ANY THEORY OF LIABILITY, WHETHER IN CONTRACT, STRICT LIABILITY, OR TORT (INCLUDING NEGLIGENCE OR OTHERWISE) ARISING IN ANY WAY OUT OF THE USE OF THESE MATERIALS.


 
Pre-Partnership Worksheet

Proposed Name of the Partnership

First choice:    

Alternate choices:    
   Parties Involved in Forming the Partnership

   Name   Address         Phone
_______________________    ________________________     __________________________
_______________________    ________________________     __________________________
_______________________    ________________________     __________________________
_______________________    ________________________     __________________________
_______________________    ________________________     __________________________
_______________________    ________________________     __________________________


Location of Business
Address of principal place of business:       

Description of principal place of business:    
   

Ownership of principal place of business (own or lease?):     
   

Other places of business:    
      


Type of Business

Purpose of business:       

State/local licenses required:    

Patents/copyrights/trademarks:    
Partnership Matters
 
State of organization:    

Proposed date to begin partnership business:    

Duration of partnership:    

Initial investment total:  $   ________________
Date when due:   ________________      

Name   Cash/Property/Services     Value
____________________    _____________________________________    _________________
____________________    _____________________________________    _________________
____________________    _____________________________________    _________________
____________________    _____________________________________    _________________
____________________    _____________________________________    _________________
____________________    _____________________________________    _________________

Additional contributions: $ ________________
Date when due:     ________________

  Name   Cash/Property/Services     Value
____________________    _____________________________________    _________________
____________________    _____________________________________    _________________
____________________    _____________________________________    _________________
____________________    _____________________________________    _________________
____________________    _____________________________________    _________________
____________________    _____________________________________    _________________

Partners share of profits and losses:

  Name     Proportionate Share of Profits and Losses   
__________________________________________       ________________________________________________
__________________________________________       ________________________________________________
__________________________________________       ________________________________________________
__________________________________________       ________________________________________________

Distribution and retention of profits and losses:     

Initial indebtedness:  $ _________________

Management of the partnership:

  Name   Proportionate Share of Management   
__________________________________________       ________________________________________________
__________________________________________       ________________________________________________
__________________________________________       ________________________________________________
__________________________________________       ________________________________________________

Managing partner (if any):          

Proposed date of first partnership meeting:                         

Proposed bank for partnership bank account:    

Cost of setting up partnership:    

Required quorum for partnership meeting:    

Annual partnership meeting:

   Place     Date   Time ______________________________________      ____________________       _____________

Required vote for partnership actions (majority/%/unanimous):     

Fiscal year:     

Accounting type (cash or accrual?):     

Financial authority:

  Name      Authority to Do
___________________________________      ________________________________________

Loans to partners:      

Salaries of partners:
Name        Salary
___________________________________      ________________________________________
___________________________________      ________________________________________
___________________________________      ________________________________________

Draws of partners:     

Partner expense accounts:     

Expulsion of partners:     

Insurance needs:    

New partners:    

Termination of partnership:    

Amendments to Partnership Agreement:    
   




Pre-Partnership Checklist


?    Complete Pre-Partnership Worksheet

?    Check annual fees and filing requirements, if any

?   Prepare Partnership Agreement

?    If desired, have attorney review Agreement prior to filing

?   Review tax impact of partnership with an accountant

?   Check state tax, employment, licensing, unemployment, and workers compensation requirements
   
?   Open partnership bank account

?    Check insurance requirements

?    Prepare partnership accounting ledgers

?   Prepare partnership record book (loose-leaf binder)

APPENDIX A
FindLegalForms.com
State Law Digest for Partnerships
Provided under agreement with copyright holder,
© Nova Publishing Company 2004

(Click on the appropriate state link below to access the states partnership law summary)

ALABAMA
ALASKA
ARIZONA
ARKANSAS
CALIFORNIA
COLORADO
CONNECTICUT
DELAWARE
DISTRICT OF COLUMBIA
FLORIDA
GEORGIA
HAWAII
IDAHO
ILLINOIS
INDIANA
IOWA
KANSAS
KENTUCKY
LOUISIANA
MAINE
MARYLAND
MASSACHUSETTS
MICHIGAN
MINNESOTA
MISSISSIPPI
MISSOURI
MONTANA
NEBRASKA
NEVADA
NEW HAMPSHIRE
NEW JERSEY
NEW MEXICO
NEW YORK
NORTH CAROLINA
NORTH DAKOTA
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