https://www.taxtmi.com/acts?id=4136 If members' shares in an association of persons or body of individuals are indeterminate or unknown, the association's total income is taxed at the maximum marginal rate, except that if any member's personal tax rate exceeds that rate, the higher rate applies. If shares are known but certain members have taxable incomes or rates above the maximum marginal rate, income portions attributable to them are taxed at those higher rates while the balance is taxed at the maximum marginal rate. en-us Sat, 19 Jan 2008 22:45:54 +0530 Sat, 05 Jul 2025 11:25:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=4136 If members' shares in an association of persons or body of individuals are indeterminate or unknown, the association's total income is taxed at the maximum marginal rate, except that if any member's personal tax rate exceeds that rate, the higher rate applies. If shares are known but certain members have taxable incomes or rates above the maximum marginal rate, income portions attributable to them are taxed at those higher rates while the balance is taxed at the maximum marginal rate. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=4136