Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2016

Property Tax Annotations

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Annotation 220.0386

220.0386 Limited Partnership. In determining whether there has been a change in the proportional ownership interest of a partner following a transfer of property to or from a partnership, distinctions between general and limited partnership law must be observed. In limited partnerships, the right to profits is more indicative of a particular partner's ownership interest than is that partner's contribution of capital. The opposite applies as regards ownership interests in general partnerships. C 5/5/1983.