1. LawStack
  2. Title 26 - INTERNAL REVENUE CODE
  3. Subtitle A - Income Taxes
  4. Chapter 1 - NORMAL TAXES AND SURTAXES
  5. Subchapter K - Partners and Partnerships
  6. Part I - DETERMINATION OF TAX LIABILITY
  7. 26 USC § 701
26 USC § 701
Partners, not partnership, subject to tax
through Public Law 119-27, except Public Law 119-21
USC

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.
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§ 702 Income and credits of partner

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