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of <h1>Partners Jointly Liable for Firm's Tax Debts; Retiring Partners Must Notify Commissioner to Limit Liability</h1> Where a firm is liable to pay tax, interest, or penalty under the Act, both the firm and its partners are jointly and severally responsible for the payment. If a partner retires, they or the firm must notify the Commissioner in writing of the retirement date. The retiring partner remains liable for obligations up to the retirement date, regardless of whether they are determined. If no notification is given within one month, the partner's liability continues until the Commissioner receives the notice.
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