Legal Question in Business Law in California

Applying for a new ID# for an existing Gen Partnership

One partner has withdrawn and another has been added. It was a 50/50 partnership. The law states being a 50/50 I have to get a new ID number. What form do I use to get a new number with the exisiting name? All business info is the same except for the new partner. How do I get the old partnres SS# off the records?

Thanks,


Asked on 5/10/05, 3:07 pm

2 Answers from Attorneys
Michael Olden Law Offices of Michael A. Olden

Re: Applying for a new ID# for an existing Gen Partnership

the form is not enough --- the partnership has to be dealt with in it sopertion and agreement by all the people agree ---- get a lawyer how deals with business as a specialty

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Answered on 5/12/05, 5:54 pm
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

Re: Applying for a new ID# for an existing Gen Partnership

You should obtain IRS Form SS-4 and the associated instructions (both downloadable from the IRS Web site at www.irs.gov).

Study the instructions and if it isn't clear, call the IRS office that handles phone requests for taxpayer ID numbers (it'll be in the instructions) for further advice.

It's been a long time since I've handled a reorganizing general partnership, but as I recall the old partnership files a final tax return using its ID number for the partial year, then the new partnership files using its number for the balance of the year. The IRS picks up the identity of the partners from the Schedule K filed with the returns.

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Answered on 5/10/05, 6:18 pm


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