26 USC 701: Partners, not partnership, subject to tax
Text contains those laws in effect on April 25, 2024
From Title 26-INTERNAL REVENUE CODESubtitle A-Income TaxesCHAPTER 1-NORMAL TAXES AND SURTAXESSubchapter K-Partners and PartnershipsPART I-DETERMINATION OF TAX LIABILITY
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§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.