{"data":{"id":"us-nv/nrs-87.4322","jurisdiction":"us-nv","citation":"NRS 87.4322","heading":"Formation of partnership.","body":"1. Except as otherwise provided in subsection 2, the association of two or more persons to carry on as co-owners of a business for profit forms a partnership, whether or not the persons intend to form a partnership.\n2. An association formed under a statute other than NRS 87.4301 to 87.4357, inclusive, a predecessor statute or a comparable statute of another jurisdiction is not a partnership under NRS 87.4301 to 87.4357, inclusive.\n3. In determining whether a partnership is formed, the following rules apply:\n(a) Joint tenancy, tenancy in common, tenancy by the entireties, joint property, common property or part ownership does not by itself establish a partnership, even if the co-owners share profits made by the use of the property.\n(b) The sharing of gross returns does not by itself establish a partnership, even if the persons sharing them have a joint or common right or interest in property from which the returns are derived.\n(c) A person who receives a share of the profits of a business is presumed to be a partner in the business, unless the profits were received in payment:\n(1) Of a debt by installments or otherwise;\n(2) For services as an independent contractor or of wages or other compensation to an employee;\n(3) Of rent;\n(4) Of an annuity or other retirement or health benefit to a beneficiary, representative or designee of a deceased or retired partner;\n(5) Of interest or other charge on a loan, even if the amount of payment varies with the profits of the business, including a direct or indirect present or future ownership of the collateral, or rights to income, proceeds or increase in value derived from the collateral; or\n(6) For the sale of the goodwill of a business or other property by installments or otherwise.","path":["TITLE 7 — BUSINESS ASSOCIATIONS; SECURITIES; COMMODITIES","CHAPTER 87 - PARTNERSHIPS","UNIFORM PARTNERSHIP ACT (1997)","Nature of Partnership"],"source_url":"https://www.leg.state.nv.us/NRS/NRS-087.html#NRS087Sec4322","current_through":"2025 session (NRS as revised 2026-08-25)","vintage":"","retrieved_at":"2026-09-03T05:51:31Z","sha256":"6bee6826f9cb43b1dc872c07b15ff28c5077b58f11200cafe2a8c00030477bc9","source_id":"us-nv","stale":true,"prev":"us-nv/nrs-87.4321","next":"us-nv/nrs-87.4323"},"notice":"GroundRules: Original legal text. Not legal advice."}