Massachusetts Amended Equity Fund Partnership Agreement

State:
Multi-State
Control #:
US-PE-D1AM
Format:
Word; 
Rich Text
Instant download

Description

This is a sample private equity company form, an Equity Fund Partnership Agreement. Available in Word format.
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FAQ

A general partner is a part-owner of a partnership business and is involved with its operations and shares in its profits. A general partner is often a doctor, lawyer, or another professional who has joined a partnership in order to remain independent while being part of a larger business.

Businesses are required to register with an EIN/FEIN in MassTaxConnect. Sole proprietors must register under their Social Security number. A sole proprietor with employees must also provide an EIN/FEIN.

A Massachusetts partnership return, Form 3, must be filed if the partnership: ? Has a usual place of business in Massachusetts; ? Receives federal gross income of more than $100 during the taxable year that is subject to Massachusetts taxation jurisdiction under the U.S. Constitution.

Since a general partnership is an informal business structure, there's no requirement to file any formation documents with the secretary of state in order to create one. The only thing that's required is an agreement between at least two people to go into business together and share profits.

A partnership is not directly subject to income tax. Instead, each partner is taxed on the part- ner's share of the partnership income, whether distributed or not.

An LLP or an LLC with two or more members will be treated as a partnership if it's treated as a partnership for federal tax purposes. An LLP or LLC will be treated as a corporation for Massachusetts income tax purposes if it is classified as such for federal tax purposes.

General Partnership Formation in Rhode Island & Massachusetts. You do not need to formally register a general partnership. A general partnership can be formed by a verbal or written agreement, or simply because of how a business operates.

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Massachusetts Amended Equity Fund Partnership Agreement