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I generally keep one for about a year, just so I can see at a glance what was available, but really the only reason you would need one is if someone lost their receipt. However, you have all of that information in Pampered Partner, so you can always print a new receipt on PP paper. Some people will keep them forever, but you can only keep so much paperwork. That is why Pampered Partner is so great. After tax time, I throw nearly everything away and keep my Pampered Partner back up.
You know, I always keep a few around "just in case", and it really paid off for me last fall when my computer crashed, and I lost all my Pampered Partner info. I still had kept the original reciepts from my guests, but lost all PP info. They came in handy when I had a couple guests who needed receipts for returns, and I just hand wrote them a receipt for their products. That's the only reason I can see to keep a few on hand...