JV's Setup and Tax Implications

[Stephanie D.]

Hi - I am seeking legal advise on how to setup JV's and to understand tax implications when partnership is dissolved.

My partners and I have an operating entity. We wan to keep our current entity as the lead umbrella. Others are interested in partnering with us on new deals. I would like to setup a JV for each deal as the investors may vary. May someone direct me on the best way to do this. Can I setup a JV via an agreement or does it need to be a legal entity?

Appreciate your directions. 

[Stephanie D.]

Thanks @Bill Hampton.  I will likely reach out as operations are in GA.