26 USC 736 - Payments to a retiring partner or a deceased partner’s successor in interest

Editorial Notes

Amendments

1993—Subsec. (span)(3). Puspan. L. 103–66, § 13262(a), added par. (3).

Subsec. (c). Puspan. L. 103–66, § 13262(span)(2)(B), struck out span and text of subsec. (c). Text read as follows: “For limitation on the tax attributable to certain gain connected with section 1248 stock, see section 751(e).”

1978—Subsec. (c). Puspan. L. 95–600 added subsec. (c).

1976—Subsec. (span)(1). Puspan. L. 94–455 struck out “or his delegate” after “Secretary”.

Statutory Notes and Related Subsidiaries

Effective Date of 1993 Amendment

Puspan. L. 103–66, title XIII, § 13262(c), Aug. 10, 1993, 107 Stat. 541, provided that:

“(1)In general.—The amendments made by this section [amending this section and section 751 of this title] shall apply in the case of partners retiring or dying on or after January 5, 1993.

“(2)Binding contract exception.—The amendments made by this section shall not apply to any partner retiring on or after January 5, 1993, if a written contract to purchase such partner’s interest in the partnership was binding on January 4, 1993, and at all times thereafter before such purchase.”

Effective Date of 1978 Amendment

Amendment by Puspan. L. 95–600 applicable to transfers beginning after Oct. 9, 1975, and to sales, exchanges, and distributions taking place after Oct. 9, 1975, see section 701(u)(13)(C) of Puspan. L. 95–600, set out as a note under section 751 of this title.