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26 U.S.C. § 701 — Partners, not partnership, subject to tax
submitted 72 years ago by ch. 736 to r/title-26-INTERNAL-REVENUE-CODE · 35 words · no verdicts yet
in plain englishAI-generated · not legal advice
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
the actual law source: uscode.house.gov ↗public domain
A partnership* as such shall not be subject to the income tax imposed by this chapter. Persons carrying on business as partners shall be liable for income tax only in their separate or individual capacities.
Source credit: (Aug. 16, 1954, ch. 736, 68A Stat. 239.)
history & why it existsrecord from the source credit
- 1954Enacted · Act of Aug. 16, 1954, ch. 736
A history note hasn’t been published yet. The record shows enactment by ch. 736 on 1954-08-16.
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