REVENUE RULE 92-41

1992-1 C.B. 433, 1992-23 I.R.B. 22.

Internal Revenue Service
Revenue Ruling

LIMITED PARTNERSHIPS

Published: June 8, 1992

26 CFR 301.7701-2: Association

Limited partnerships. The California Revised Limited Partnership Act corresponds to the Uniform Limited Partnership Act (ULPA) for purposes of section 301.7701-2 of the regulations. Rev. Rul. 89-123 amplified.

In Rev. Rul. 89-123, 1989-2 C.B. 261, the Internal Revenue Service listed the states whose revised uniform limited partnership acts the Service had examined and determined correspond to the Uniform Limited Partnership Act (ULPA) for purposes of section 301.7701-2 of the Procedure and Administration Regulations. The California Revised Limited Partnership Act, effective July 1, 1984, was included in that list.

The Service has determined that the California Revised Limited Partnership Act, as amended through September 20, 1990, effective January 1, 1991, corresponds to the ULPA for purposes of section 301.7701-2 of the regulations: California Corp. Code sections 15611 through 15723 (West Supp. 1991), as amended through September 20, 1990, effective January 1, 1991.

EFFECTIVE ON OTHER RULINGS

Rev. Rul. 89-123 is amplified.

DRAFTING INFORMATION

The principal author of this revenue ruling is Bernard P. Harvey of the Office of Assistant Chief Counsel (Passthroughs and Special Industries). For further information regarding this revenue ruling contact Mr. Harvey on (202) 566-3553 (not a toll-free call).

Rev. Rul. 92-41, 1992-1 C.B. 433, 1992-23 I.R.B. 22.