Aug. 18, 2009
When two or more people own a for-profit business, they qualify as a general partnership. Like sole proprietors, partners are responsible for the liabilities and debts of the business. And when tax time rolls around, each partner must report the income from the business as part of his or her personal income.
While general partnerships are not required to register with the Indiana Secretary of State, they are required to register with the Indiana Department of Revenue--if the business:
- Sells products or tangible items
- Has employees
- Sells food and beverages
- Rents accommodations for less than 30 days
- Rents motor vehicles
- Distributes gasoline or special fuel
- Sells tires
- Sells fireworks
To register your business with the Department, you must submit a Business Tax Application (BT-1). The form allows you to set up the appropriate tax accounts for your business.
To register your business, you can:
- Submit your BT-1 online at https://secure.in.gov/apps/dor/bt1/, which reduces the time it will take to register with the Department.
- Download a translated Form BT-1 at https://forms.in.gov/Download.aspx?id=2467 , fill it out, and mail the completed application to the Indiana Department of Revenue. It will take approximately 4-6 weeks to complete the registration process.
- Take the completed BT-1 application to any of the Indiana Department of Revenue’s district offices for same-day service.
Visit our New and Small Business Education Center to learn more about sales and income tax, plus read frequently asked questions. To visit the New and Small Business Education Center, go to firstname.lastname@example.org You may also visit our new Web site www.impuestos.in.gov/
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