1110. What factors indicate a valid partnership?
The following factors help establish whether your business is conducted as a partnership:
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Copies of any written agreements entered into by the parties or statements of the parties as to the terms of the arrangement;
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Copies of partnership income tax returns on which the business income was reported;
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Corroboration from the other partner(s); and
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Statements from disinterested third parties, such as suppliers, wholesalers, customers, local business people, etc., who are familiar with the manner in which your business was conducted.
Last Revised: March, 2001