Taxability of Partners

Official source

Except as provided under section 306.2, a partnership as an entity shall not be subject to the tax imposed by this article, but the income or gain of a member of a partnership in respect of said partnership shall be subject to the tax and the tax shall be imposed on his share, whether or not distributed, of the income or gain received by the partnership for its taxable year ending within or with the member's taxable year.

(306 amended July 9, 2013, P.L.270, No.52) Compiler's Note: Section 42(2) of Act 52 of 2013, which amended section 306, provided that the amendment shall apply to tax years beginning after December 31, 2013. Compiler's Note: Section 26(4)(iv) of Act 23 of 2001, which amended section 306, provided that the amendment shall apply to taxable years beginning after December 31, 2000.

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Taxability of Partners

Official source

Except as provided under section 306.2, a partnership as an entity shall not be subject to the tax imposed by this article, but the income or gain of a member of a partnership in respect of said partnership shall be subject to the tax and the tax shall be imposed on his share, whether or not distributed, of the income or gain received by the partnership for its taxable year ending within or with the member's taxable year.

(306 amended July 9, 2013, P.L.270, No.52) Compiler's Note: Section 42(2) of Act 52 of 2013, which amended section 306, provided that the amendment shall apply to tax years beginning after December 31, 2013. Compiler's Note: Section 26(4)(iv) of Act 23 of 2001, which amended section 306, provided that the amendment shall apply to taxable years beginning after December 31, 2000.