The Minnesota partnership agreement reports the conditions, responsibilities, and benefits of a business partnership made between at least two parties. These Minnesota partners may be made up of individuals or they may be made up of one or more formally organized entities.
Often, a partnership affords multiple participants in a joint venture a certain level of protection while reducing the liability of any one partner unless stated otherwise in the agreement. Thus, it will be important that the Minnesota partners research the appropriate tax laws that apply to their company as well as any formal certification requirements made upon their trade before signing this agreement.
State Definition
“(9) “Partnership agreement” means the agreement, whether written, oral, or implied, among the partners concerning the partnership, including amendments to the partnership agreement.”
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