You need to register with the Secretary of State . The sole owner assumes complete responsibility for all liabilities and debts of the business. The income tax of the business would be reported as part of the owner s personal income tax. Partnerships should operate under a written Partnership Agreement to avoid future problems.
All partners are responsible for the liabilities and debts of the partnership.
Income is reported as part of each partner s personal income. The type of form will vary depending on the type of Corporation. The income of an LLP is taxed in the same manner as a General Partnership. The income is taxed in the same manner as a General Partnership. Withholding Information for Indiana Residents and Non-Residents.