Changing To A Partnership

[RealisticlyReal]

Hello!
My friend started a business himself and made the company a limited by shares company. Since then we have become business partners and it would be better if the company was a limited partnership by shares instead. Does anyone know the procedure involved in changing the status and to what cost?
Thanks,
Ali

[lawinc]

Here are the general guidelines:

If you already have an Employer Identification Number (EIN), you may need to get a new one if either the organization or ownership of your business changes. If you incorporate a sole proprietorship or form a partnership, you must get a new EIN. However, do not apply for a new EIN if:

* You change only the name of your business
* A partnership or corporation declares bankruptcy
* A corporation chooses to be taxed as an S corporation
* You elected on Form 8832 Entity Classification Election, to change the way the entity is taxed, or you change the location or add locations
* You elect to be taxed as an S corporation