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Here are some of the key provisions in a Partnership Agreement: 1  Partnership name. 2  Business address. 3  Names of Partners. 4  Effective date of agreement. 5  Primary purpose of partnership. 6  Voting requirements for partnership decisions. 7  Specify how costs will be shared among the partners. 8  Specify how profits will be shared among the partners.
In most cases, dissolution provisions in a partnership agreement will state that all or a majority of partners must consent before the partnership can dissolve. In such cases, you should have all partners vote on a resolution to dissolve the partnership.. California does not require that you obtain tax clearance before dissolving your partnership. However, the California Franchise Tax Board (FTB) does require you to file a final tax return for your partnership and pay any state taxes due with that return.