Assertion: partnership's partner | /r/HasProperty | partner
Facets:
value: during the taxable year
type: TEMPORAL
value: at any time
type: TEMPORAL
Source sentences:
text: Partners are partners, right?
text: “partners” or “partnership” to become a legal partnership.
text: If the general partner is another PARTNERSHIP, a general partner must sign on behalf of the other partnership.
text: To illustrate, assume that there are two equal partners, Partner A and Partner B. The partnership agreement specifies that after providing for salary and interest allowances the remaining income is divided equally.
text: The sole proprietor, Partner A, will give the new partner, Partner B, an equal share in the partnership.
text: For example, if there are two partners holding an ownership of 30 percent and 70 percent and the business makes a profit of $100,000 in a given year, then the partners will receive $30,000 and $70,000 respectively as their share in profits.
text: The partners, not the partnership, are taxed on the partnership's income.
text: The partners could be individuals, corporations, trusts, other partnerships, or any combination of these examples.
text: All nonresident partners who were partners at any time during the taxable year and who do not have a valid agreement on file with LDR must be included in the Louisiana Composite Partnership Return (See LAC 61:I.1401).
text: In order to prepare for the possibility of partnership dissolution or the exiting of one or more partners, the partners, by being signatories to the partnership agreement, agree as follows:
text: a. All nonresident partners are corporations, partnerships or tax exempt trusts; or
text: The general partner can be another partnership, an LLC, a corporation, or a human being.