Sec. 19. (a) The term “partnership” means an entity subject to the requirements of Subchapter K of the Internal Revenue Code.

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Terms Used In Indiana Code 6-3-1-19

  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
     (b) The term “partner” means a member of a partnership.

Formerly: Acts 1963(ss), c.32, s.119; Acts 1965, c.233, s.6. As amended by P.L.2-1988, SEC.6; P.L.8-1993, SEC.83; P.L.1-1994, SEC.27; P.L.159-2021, SEC.9.

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