Guidance for Special Types of Businesses
Special Rules for Certain Business Structures
Special Provisions for Partnerships

Organizations formed after 1996. An unincorporated organization(including alimited liability company) formed after 1996 is classified as a partnership ifit:

1. Has not made an election to be classified as a corporation,
2. Has more than one member,
3. Is organized to carry on business,
4. Is formed in the United States,
5. Is not organized under a law that describes it as a corporation, body corporate, bodypolitic, joint-stock company, or joint-stock association,

and

6. Is not an insurance company, real estate investment trust, exemptorganization, or a bank whose deposits are insured under the Federal Deposit Insurance Actor similar statute.

Partnerships

Important References

Publication 541        Partnerships
Publication 553discount hotels in Lucca         Highlights of The 1999 Tax Law Changes