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§ 701. Partners, not partnership, subject to tax

Type Statute
Publication 2026-01-12
State In force
Department United States Congress
Source OLRC
Reform history JSON API
§ 701. Partners, not partnership, subject to tax

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.

(Aug. 16, 1954, ch. 736, 68A Stat. 239.)

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