Business Tax Types - Partnership
A partnership is a business owned by two or more persons or business entities. Partners contribute money, property, labor or skills, and distribute the profits, losses, and debts back to the partners. A partnership is not a taxable entity. Partners must report their appropriate share of income, or loss, from the partnership on their income tax return. Estimated tax payments may be required on the income received from a partnership.
Any partnership, joint venture, syndicate, etc. which is required to file a partnership return of income for federal purposes is also required to file a Kansas partnership return if such enterprise receives income or loss from Kansas sources.