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North Dakota Of?CE of State Tax Commissioner Form 58-EXT 2014 Partnership Extension Payment Purpose How to make payment If a partnership is applying for an extension of time to ?LE the 2014 Form 58,
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How to fill out if a partnership is:

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Research and gather information: Start by gathering all relevant information about the partnership, such as the names and contact details of the partners, the purpose of the partnership, and any financial or legal obligations.
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Understand the legal requirements: Familiarize yourself with the legal requirements for forming a partnership in your jurisdiction. This may include registering the partnership with the appropriate government agency and obtaining any necessary licenses or permits.
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Determine the partnership agreement: Draft a partnership agreement that outlines the rights, responsibilities, and obligations of each partner. This should also include details about profit sharing, decision-making authority, and dispute resolution mechanisms.
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Consult with professionals if necessary: If you are unsure about any aspect of creating a partnership, consider consulting with an attorney, accountant, or other professionals who specialize in business partnerships. They can provide guidance and ensure that all legal and financial aspects are properly addressed.

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Entrepreneurs: Individuals who want to start a business but prefer to share the responsibilities and risks with one or more partners may consider forming a partnership. This structure allows for shared decision-making and resource pooling.
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Small business owners: Partnership can be an attractive option for small business owners who want to expand their operations or bring in new expertise. By entering into a partnership with another business or individual, they can leverage complementary skills and resources.
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Professionals: Certain professionals, such as lawyers, doctors, or accountants, may choose to establish a partnership to combine their expertise and offer a wider range of services to clients.
Overall, anyone interested in establishing a collaborative business structure with shared ownership and responsibilities can benefit from considering a partnership. It is important to carefully assess the advantages and disadvantages, and consult with professionals, to ensure that a partnership is the right choice for your specific needs.
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A partnership is a business structure in which two or more individuals manage and operate the business.
Partnerships are required to file an annual information return with the IRS.
Partnerships can fill out Form 1065 to report their income, deductions, and credits.
The purpose of filing as a partnership is to report the business's income and expenses to the IRS.
Partnerships must report their income, deductions, credits, and other financial information.
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