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What is a General Partnership in Pennsylvania?
A general partnership is a business formed by two or more individuals agreeing to go into business together. Pennsylvania general partnerships are not required to register with the state. However, many general partnerships will need to register a fictitious name unless the partnership uses the last name of all general partners (e.g., LaMonica, Morrison, & Smith). General partnerships are also pass-through entities for income tax purposes, meaning they pass their income (and losses) directly to the individual partners.