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UPDATE ON PARTNERSHIPS AND JOINT VENTURES

UPDATE ON PARTNERSHIPS AND JOINT VENTURES 2025

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The document provides an update on the implications of partnerships and joint ventures for tax-exempt organizations, particularly hospitals under IRC 501(c)(3). It discusses the IRS's scrutiny of arrangements where hospitals serve as general partners in limited partnerships, focusing on whether such participation jeopardizes their tax-exempt status. The analysis includes a two-part test assessing charitable purpose and private benefit, emphasizing that any arrangement must primarily serve charitable goals without disproportionately benefiting private individuals. The document highlights recent rulings and cases that illustrate these principles, stressing the need for careful evaluation of partnership agreements to ensure compliance with tax-exempt requirements.

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Is a joint venture a temporary partnership?

With individuals, when two or more persons come together to form a temporary partnership for the purpose of carrying out a particular project, such partnership can also be called a joint venture where the parties are co-venturers. A joint venture can take the form of a business.

Is a joint venture not a partnership?

A joint venture involves two or more persons or entities joining together for a particular project. A partnership is described as a relationship which exists between people carrying on a business, with a common view of making a profit.

What distinguishes a joint venture from a general partnership?

General Partnerships share staff, corporate form and name, space, etc. Joint Venturers have their own separate entities, staff, etc. but come together for a common short-term goal. In a General Partnership, Partners can act as agents to the partnership and can sign contracts, enter into agreements, etc.

Are joint ventures on the rise?

With rising interest rates and tightening credit, joint ventures (JVs) have become an important and more frequent source of financing for capital intensive businesses in multiple industries, including real estate and healthcare.

Are joint ventures considered partnerships?

A joint venture involves two or more persons or entities joining together in particular project, whereas in a partnership, it is individuals who join together for a combined business. A joint venture can be described as a contractual arrangement between two or more entities that aims to undertake a specific task.

What is the difference between a joint venture and a partnership?

Joint ventures are temporary collaborations with a specific project focus, while partnerships are long-term collaborations with broader business objectives.

What entity type is a joint venture?

A business entity that enters into a joint venture is referred to as an original entity, which may be organized as a limited liability company (LLC), a sole proprietorship, some form of partnership, or a corporation.

What are the 4 types of joint ventures?

Four types of joint ventures. Overall, joint ventures increase efficiency, reduce cost, and improve risk management. There are four common types of joint ventures: project-based, functional-based, vertical, and horizontal.

UPDATE ON PARTNERSHIPS AND JOINT VENTURES 2025

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