§701. Partners, not partnership, subject to tax
As of today
26 U.S.C. § 701
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.
Notes, amendments, and revision history
(Aug. 16, 1954, ch. 736, 68A Stat. 239.)