General information

A partnership is the result of a contract between two or more persons, called partners, who wish to operate a business for profit. Each partner makes a financial contribution (money or property), a professional contribution (work or expertise), or both.

Where there is only one partner left in the partnership, and no one joins the partnership within 120 days, the partnership is dissolved.

The liability of the partners differs according to whether the partnership is a general partnership, a limited partnership or a joint venture.

Notes

• The members of a partnership must report their share of the partnership's income individually and pay the related income tax.
•  A partnership is considered to be a separate entity from any of its members. As such, it must collect any consumption taxes owed, and report and remit the amounts to the Ministère by the prescribed deadlines.