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Contents 1 Welcome 2 Found it! 3 Sure... 4 "Partnership"

Welcome

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- Tim Doyle, TaxAlmanac Moderator, Tdoyle 11:56, 9 January 2006 (CST)

Found it!

:) Yes, I knew where it was all the time, but I just found your question. I haven't been on this site for a few hours tonight.

Deb 22:44, 9 April 2007 (CDT)

Sure...

Nope you got it right...but to search for it, try:

http://www.gpo.gov/uscode/title26/subtitlea_chapter1_subchapters_.html

It is US CODE Title 26 Subtitle A (TAXES) Chapter 1...subchapter S article on taxation of S/H's...

The code should be on this site, but if not, just go to the link and it will tell you what you need to know. You are most welcome!!

Sandysea

"Partnership"

I can't give legal advice on it, no one can without more facts; and I'm not a TX lawyer. What generally counts in this type matter is intent. For instance, if the son did well, did he intend to just pay father back, or perhaps throw some profit in there too? So, it's a factual matter. Most every state has a "ready-made partnership agreement" written into it's law. When two people associate with each other with the intent to make a profit, most states define this as a partnership, and the "ready-made agreement" goes into effect.