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Partnership Single Special Tax Exemption
IRC §4902
Multiple partners operating a business at a single location are only required to pay one special tax rather than individual taxes for each partner.
Eligibility
Applies to any number of persons doing business in a copartnership at any one place.
Frequently Asked Questions
Who is eligible for the Partnership Single Special Tax Exemption?
Applies to any number of persons doing business in a copartnership at any one place.
How does the Partnership Single Special Tax Exemption work?
Multiple partners operating a business at a single location are only required to pay one special tax rather than individual taxes for each partner.
What law authorizes the Partnership Single Special Tax Exemption?
The Partnership Single Special Tax Exemption is authorized under IRC §4902 of the Internal Revenue Code (Title 26, United States Code).
Statutory Text — IRC §4902
Source: Internal Revenue Code, Title 26, United States Code
§ 4902. Liability of partners
Any number of persons doing business in copartnership at any one place shall be required to pay but one special tax.
(Aug. 16, 1954, ch. 736, 68A Stat. 593.)
Legal Sources
US Code (Official) — 26 USC §4902 → Cornell Law Institute — 26 USC §4902 → Search IRS.gov for IRC §4902 → Treasury Regulations (26 CFR) →Discovered by: discovery_engine_v1
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