Page:United States Statutes at Large Volume 96 Part 1.djvu/705

 PUBLIC LAW 97-248—SEPT. 3, 1982

96 STAT. 66^

shall be filed or made at such time, in such manner, and at such place as may be prescribed in regulations. "(j) PARTNERSHIPS HAVING PRINCIPAL PLACE OF BUSINESS OUTSIDE THE UNITED STATES.—For purposes of sections 6226 and 6228, a

principal place of business located outside the United States shall be treated as located in the District of Columbia. "(k) REGULATIONS.—The Secretary shall prescribe such regulations as may be necessary to carry out the purposes of this subchapter. Any reference in this subchapter to regulations is a reference to regulations prescribed by the Secretary. "(1) COURT RULES.—Any action brought under any provision of this subchapter shall be conducted in accordance with such rules of practice and procedure as may be prescribed by the Court in which the action is brought. "SEC. 6231. DEFINITIONS AND SPECIAL RULES.

"(a) DEFINITIONS.—For purposes of this subchapter— "(1) PARTNERSHIP.—

"(A) IN GENERAL.—Except as provided in subparagraph (B), the term 'partnership' means any partnership required to file a return under section 6031(a). "(B) EXCEPTION FOR SMALL PARTNERSHIPS.—

"(i) IN GENERAL.—The term 'partnership' shall not include any partnership if— "(I) such partnership has 10 or fewer partners each of whom is a natural person (other than a nonresident alien) or an estate, and "(II) each partner's share of each partnership item is the same as his share of every other item. For purposes of the preceding sentence, a husband and wife (and their estates) shall be treated as 1 partner, "(ii) ELECTION TO HAVE SUBCHAPTER APPLY.—A partnership (within the meaning of subparagraph (A)) may for any taxable year elect to have clause (i) not apply. Such election shall apply for such taxable year and all subsequent taxable years unless revoked with the consent of the Secretary. "(2) PARTNER.—The term 'partner' means— "(A) a partner in the partnership, and "(B) any other person whose income tax liability under subtitle A is determined in whole or in part by taking into account directly or indirectly partnership items of the partnership. "(3) PARTNERSHIP ITEM.—The term 'partnership item' means, with respect to a partnership, any item required to be taken into account for the partnership's taxable year under any provision of subtitle A to the extent regulations prescribed by the Secretary provide that, for purposes of this subtitle, such item is more appropriately determined at the partnership level than at the partner level. "(4) NONPARTNERSHIP ITEM.—The term 'nonpartnership item' means an item which is (or is treated as) not a partnership item. "(5) AFFECTED ITEM.—The term 'affected item' means any item to the extent such item is affected by a partnership item. "(6) COMPUTATIONAL ADJUSTMENT.—The term 'computational adjustment' means the change in the tax liability of a partner which properly reflects the treatment under this subchapter of

97-200 O-84-pt. 1

23: QL3

26 USC 6231.

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