Internal Revenue Code · 26 U.S.C.
§ 708. Continuation of partnership
Official text, no changes From the Office of the Law Revision Counsel, release point 119-121 (current through Public Law 119-121 (October 9, 2026)). Compare it with the official text at uscode.house.gov (external site).
Cite as 26 U.S.C. § 708
At a glance
Read from the text, the source credit and the official notes. Not part of the law.
- Status
- In force
- Enacted
- December 22, 2017 by Pub. L. 115–97
- Length
- 2 subsections · 203 words · about 1 min to read
- Cross-references
- cites 0; cited by 1 Code section and 50 other regulations
- Regulations
- 1 issued under this section
For purposes of this subchapter, an existing partnership shall be considered as continuing if it is not terminated.
In the case of the merger or consolidation of two or more partnerships, the resulting partnership shall, for purposes of this section, be considered the continuation of any merging or consolidating partnership whose members own an interest of more than 50 percent in the capital and profits of the resulting partnership.
In the case of a division of a partnership into two or more partnerships, the resulting partnerships (other than any resulting partnership the members of which had an interest of 50 percent or less in the capital and profits of the prior partnership) shall, for purposes of this section, be considered a continuation of the prior partnership.
(Aug. 16, 1954, ch. 736, 68A Stat. 244; Pub. L. 115–97, title I, § 13504(a), Dec. 22, 2017, 131 Stat. 2141.)
Regulations under this section
Treasury regulations (26 CFR) issued under § 708
Cross-references
Computed from the citations in the text of Title 26 and 26 CFR.
Cited by 1 Code section
Cited in 50 regulations not issued under it
- § 1.45Q-5 Recapture of Credit.
- § 1.108(i)-2 Application of section 108(i) to partnerships and S corporations.
- § 1.163(j)-6 Application of the section 163(j) limitation to partnerships and subchapter S corporations.
- § 1.168(d)-1 Applicable conventions—half-year and mid-quarter conventions.
- § 1.168(i)-1 General asset accounts.
- § 1.168(k)-1 Additional first year depreciation deduction.
- § 1.168(k)-2 Additional first year depreciation deduction for property acquired and placed in service after September 27, 2017.
- § 1.195-2 Technical termination of a partnership.
- § 1.197-0 Table of contents.
- § 1.197-2 Amortization of goodwill and certain other intangibles.
- § 1.401-10 Definitions relating to plans covering self-employed individuals.
- § 1.460-4 Methods of accounting for long-term contracts.
- § 1.701-2 Anti-abuse rule.
- § 1.704-1 Partner's distributive share.
- § 1.704-3 Contributed property.
- § 1.704-4 Distribution of contributed property.
- § 1.706-1 Taxable years of partner and partnership.
- § 1.706-4 Determination of distributive share when a partner's interest varies.
- § 1.707-3 Disguised sales of property to partnership; general rules.
- § 1.709-1 Treatment of organization and syndication costs.
- § 1.721(c)-2 Recognition of gain on certain contributions of property to partnerships with related foreign partners.
- § 1.721(c)-5 Acceleration event exceptions.
- § 1.731-2 Partnership distributions of marketable securities.
- § 1.736-1 Payments to a retiring partner or a deceased partner's successor in interest.
Show 26 more
- § 1.737-2 Exceptions and special rules.
- § 1.741-1 Recognition and character of gain or loss on sale or exchange.
- § 1.743-1 Optional adjustment to basis of partnership property.
- § 1.752-0 Table of contents.
- § 1.752-1 Treatment of partnership liabilities.
- § 1.752-2 Partner's share of recourse liabilities.
- § 1.752-5 Applicability dates and transition rules.
- § 1.752-7 Partnership assumption of partner's § 1.752-7 liability on or after June 24, 2003.
- § 1.761-1 Terms defined.
- § 1.771-1 Effective date.
- § 1.901-2 Income, war profits, or excess profits tax paid or accrued.
- § 1.901(m)-1 Definitions.
- § 1.1295-1 Qualified electing funds.
- § 1.1400L(b)-1 Additional first year depreciation deduction for qualified New York Liberty Zone property.
- § 1.1400Z2(b)-1 Inclusion of gains that have been deferred under section 1400Z-2(a).
- § 1.1400Z2(d)-1 Qualified opportunity funds and qualified opportunity zone businesses.
- § 1.1411-10 Controlled foreign corporations and passive foreign investment companies.
- § 1.1502-76 Taxable year of members of group.
- § 1.1503(d)-6 Exceptions to the domestic use limitation rule.
- § 1.7704-1 Publicly traded partnerships.
- § 1.7704-2 Transition provisions.
- § 1.7704-4 Qualifying income—mineral and natural resources.
- § 301.6109-1 Identifying numbers.
- § 301.6241-3 Treatment where a partnership ceases to exist.
- § 301.7701-2 Business entities; definitions.
- § 301.7701-3 Classification of certain business entities.
Amendment history
From the source credit and the official notes, newest first.
- Enacted by Pub. L. 115–97Parts changed in 2017: (b)(1)
Where it sits in the Code
- Subtitle A Income Taxes
- Chapter 1 NORMAL TAXES AND SURTAXES
- Subchapter K Partners and Partnerships
- Part I DETERMINATION OF TAX LIABILITY
Nearby sections
Official notes
Show the Law Revision Counsel's notes (amendments, effective dates)
Editorial Notes
Amendments
2017—Subsec. (b)(1). Pub. L. 115–97 struck out dash after “only if” and subpar. (A) designation before “no part” and struck out subpar. (B) which read as follows: “within a 12-month period there is a sale or exchange of 50 percent or more of the total interest in partnership capital and profits”.
Statutory Notes and Related Subsidiaries
Effective Date of 2017 Amendment
Amendment by Pub. L. 115–97 applicable to partnership taxable years beginning after Dec. 31, 2017, see section 13504(c) of Pub. L. 115–97, set out as a note under section 168 of this title.