Uniform Partnership Act (UPA) and Revised Uniform Partnership Act (RUPA): Federal laws that provide the basic framework for partnership formation, operation, and dissolution. These acts define partner rights, duties, and obligations.
Internal Revenue Code: Federal tax regulations governing partnership taxation, including partnership classifications, tax filing requirements, and distribution of profits and losses.
Federal Securities Laws: Regulations that may apply if partnership interests are considered securities, including registration and disclosure requirements.
Federal Antitrust Laws: Laws preventing anti-competitive business practices, which may affect partnership operations and market conduct.
State Partnership Laws: State-specific regulations governing partnership formation, operation, and dissolution, which may vary by jurisdiction.
State Business and Professions Code: State-specific regulations governing business operations, professional conduct, and licensing requirements.
State Securities Laws: State-level securities regulations ('Blue Sky Laws') that may affect partnership interest offerings and transfers.
State Tax Laws: State-specific tax regulations affecting partnerships, including state income tax, sales tax, and other local tax obligations.
Employment Laws: Federal and state laws governing employment relationships, including Fair Labor Standards Act, Equal Employment Opportunity laws, and workers' compensation requirements.
Industry-Specific Regulations: Specialized rules and requirements specific to the partnership's industry, including professional licensing and compliance requirements.
Local Business Ordinances: Municipal and county-level regulations affecting business operations, including zoning laws and local licensing requirements.
Fiduciary Duties: Legal obligations of partners to act in the best interest of the partnership, including duties of loyalty, care, and good faith.
