Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2014
 

Sales and Use Tax Annotations


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C

170.0000 COLLECTION OF TAX BY BOARD

Annotation 170.0300

(a) IN GENERAL

170.0300 Limited Partnership. A limited partner is not liable for the debts of a partnership. However, a person who takes part in the control of a partnership is a general partner, regardless of recitals in the partnership agreement that he/she is a limited partner. A person who has the authority to decide which partnership bills to pay along with the right to sign checks without consultation with the named general partners is exercising control of the business and will be treated as a general partner. 8/8/94.