Business Formation
Partnership
Two or more owners, shared profits and decisions — and, in a general partnership, shared personal liability for each other's actions.
What it is
A partnership is what you have the moment two or more people go into business together, whether or not you've written anything down. In a general partnership, each partner can be held personally liable not just for their own actions, but for decisions made by the other partners — which is the single biggest thing first-time partners underestimate.
We'll help you decide whether a general partnership is actually the right vehicle, or whether a multi-member LLC gets you the same working arrangement with real liability protection.
Who it’s right for
- Two or more owners who want to start operating quickly without a lot of formation overhead
- Businesses where the owners have an existing working relationship and trust each other's decisions
- Situations where pass-through taxation (no entity-level tax) genuinely simplifies things
Who it’s wrong for
- Any partner who isn't comfortable being personally liable for decisions the other partners make — that's how a general partnership works by default
- Owners who haven't agreed in writing on what happens if one partner wants out, dies, or stops contributing
- Growth plans that involve outside investors, who almost always want a corporation or LLC, not a partnership interest
What we do
- 1Talk through general vs. limited partnership and whether an LLC with multiple members would protect you better for a similar cost
- 2File your partnership registration where your state requires it
- 3Draft a partnership agreement covering ownership splits, decision-making, and exit terms — the document most partnerships skip and later regret
- 4Set up your EIN and point you toward bookkeeping that tracks each partner's capital account correctly
What it costs
Starting at $150*
Starting price when paired with monthly bookkeeping. Does not include state filing fees, billed separately based on your state.
*Starting price applies when bundled with our monthly bookkeeping service. Ask us for formation-only pricing if you don’t need bookkeeping included.