Statute · United States Code

26 U.S.C. § 701 — Partners, not partnership, subject to tax

26 U.S.C. § 701

Type
Statute
Source
United States Code
Jurisdiction
Federal
Date
2025-01-06
Topic
bankruptcy

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.

Citator

26 U.S.C. § 701 — Partners, not partnership, subject to tax is in force in the current edition of the Code, and nothing recorded condemns it.

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.