Joint and several liability of partners for firm tax obligations, with retiring partners liable until the Commissioner receives notice. Where a firm is liable to pay tax, interest or penalty under the Ordinance, the firm and each partner are jointly and severally liable. A retiring partner ... Summary
Joint and several liability of partners for firm tax obligations, with retiring partners liable until the Commissioner receives notice.
Where a firm is liable to pay tax, interest or penalty under the Ordinance, the firm and each partner are jointly and severally liable. A retiring partner remains liable for amounts due up to the date of retirement unless the partner or firm gives written notice of retirement to the Commissioner; until the Commissioner receives that notice the retiring partner's liability continues.
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