A partnership requires serious consideration of both legal

A partnership requires serious consideration of both legal

A partnership requires seriousconsideration of both legal and tax implications, similar to the considerationrequired when planning and forming a corporation.Complete a writing activity based on thefollowing situation: Two brothers and a friend are in the process of startingan information technology services company. Each of the prospective partnershas relevant experience and knowledge. The company will offer network andhardware support as well as selling software and hardware products.Please discuss, at a minimum, the followingissues that should be considered in the planning and formation process:Discuss key legal and tax considerations inplanning the formation of a partnership and/or LLC. Be sure to acknowledgeinterrelated connections between law and tax, and their effects on each other.Offer important agreement terms andconditions that should be covered by any formal formation document such as a partnershipagreement.Your paper must be a minimum of 2 pages(700 words).

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