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Return To Incorporation FAQ Archive   Search the Archives What is a partnership business model? Answered By Ivan Welten Partnership is a kind of unincorporated business entity wherein partners have equal liability for the business profits, losses, as well as debts. The partnership business itself will not need to allocate for income taxes. However, it is necessary that each of the partners should report and state both their shared business losses and profits on their income tax returns individually. keywords: Incorporation | Incorporate | Incorporating | Business | Partnership | Business Model California Incorporation Services

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