A general partnership (also known as simply a partnership) forms when two – or more – people decide to do business together to gain profit. While you do not have to do a formal filing or draw up a written agreement to establish a partnership in California, there are registration, filing, and tax requirements every business must comply with.
Fortunately, establishing a general partnership in the state of California is a simple five step process. Follow my five-step guide and you’ll have your partnership established in no time.
If you find the steps below to be a little unclear, please send me an email at firstname.lastname@example.org and I’ll break it down for you.
1. Establish Your Partnership Name
In the state of California, you have two options when it comes to your partnership name. You can operate on the surnames of your partners or you can create a fictitious business name.
If you decide to do the second option, your name needs to be different from other company names currently on record in the state of California. Ideally, you want to make sure your name isn’t too much like other existing business names.