Arkansas General Partnership Definition
Arkansas General Partnership
DEFINITION
General partnerships are not required to file an official registration beyond that required for a sole
proprietorship but may choose to file with the Secretary of State’s office in order to be on record
as a general partnership. Check with your advisors.
General partnerships:
• Do not protect the personal assets of the business partners from claims against
the partnership.
• Are required to file informational returns with the Internal Revenue Service and Arkansas
Income Tax Division.
• Share its profits and losses among the partners according to their ownership percentage or
other legal means. Partners are then required to claim this income or loss on their personal
income tax return.
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