(a) Except as provided in subsection (b) of this section, the association of two (2) or more persons to carry on as co-owners of a business for profit creates a partnership, whether or not the persons intend to create a partnership. (b) An association created under a statute other than this chapter, any predecessor law or comparable law of another jurisdiction is not a partnership. (c) In determining whether a partnership is created, the following rules apply: (i) 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; (ii) 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; (iii) The receipt by a person of a share of the profits of a business is prima facie evidence that the person is a partner in the business, but that inference may not be drawn if the profits were received in payment: (A) Of a debt by installments or otherwise; (B) For services as an independent contractor or of wages or other compensation to an employee; (C) Of rent; (D) Of an annuity or other retirement or health benefit to a beneficiary, representative or designee of a deceased or retired partner; (E) 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 (F) Of consideration for the sale of the goodwill of a business or other property by installments or otherwise. (d) Except as provided by W.S. 17-21-308, persons who are not partners as to each other are not partners as to other persons. (e) A partnership created under this chapter is a general partnership and the partners are general partners of the partnership.
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