Partnership informational return of income required; limitations on partner tax

liability

# A.

Except as otherwise provided in R.S. 47:201.2, a partnership shall not be subject to the income tax imposed by this Chapter, but a partnership shall be required to file an annual informational partnership return of income in accordance with R.S. 47:103(A)(2).

# B.

Persons carrying on business as partners shall be liable for income tax only in their separate or individual capacities.
Amended by Acts 1958, No. 441, §1; Acts 1975, No. 459, §1; Acts 2021, No. 287,
§1, eff. June 14, 2021.

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In this chapter (25 sections)

47:201 · Partnership informational return of income required;…
47:201.1 · Composite returns for nonresident partners or members
47:201.2 · Reporting adjustments to federal taxable income and federal…
47:202 · Income of partner
47:203 · Partnership computations
47:204 · Partner's distributive share
47:205 · Determination of basis of partner's interest
47:206 · Taxable years of partner and partnership
47:207 · Transactions between partner and partnership
47:208 · Continuation of partnership
47:209 · Nonrecognition of gain or loss on contribution
47:210 · Basis of contributing partner's interest
47:211 · Basis of property contributed to partnership
47:212 · Extent of recognition of gain or loss on distribution
47:213 · Basis of distributed property other than money
47:214 · Basis of distributee partner's interest
47:215 · Optional adjustment to basis of undistributed partnership…
47:216 · Payments to a retiring partner or a deceased partner's…
47:217 · Recognition and character of gain or loss on sale or exchange
47:218 · Basis of transferee partner's interest
47:219 · Optional adjustment to basis of partnership property
47:220 · Treatment of certain liabilities
47:220.1 · Manner of electing optional adjustment to basis of…
47:220.2 · Rules for allocation of basis
47:220.3 · Terms defined

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