My friends and I have created an Android game that is free but has ads to generate revenue. For the purposes of taxation, we wish to create a general partnership in California, but we are all minors (15-16). How do we go about doing this? Are there alternatives to forming a partnership that will allow us to divide AdMob money among us without a company?
I've checked out this link: http://www.sba.gov/bgsearch/permitme2_0.do?q=95014&bcat=0
It seems like we'll need to fill out all kinds of forms other than GP-1: http://www.sos.ca.gov/business/gp/forms/gp-1.pdf
And it also seems like the partnership will have to be formed by our parents as opposed to us directly? Can someone help?
We're trying to minimize our start-up costs, since we don't have much capital.