Partnership Shall be Considered a Registered Partnership from the Date of Its Organization

October 21, 1959 BIR RULING NO. 544-59 The Regional Director B. I . R. Regional District No. 10 Davao City S i r : Reference is made to your letter of the 15th instant requesting information whether or not a general partnership may be considered an unregistered general partnership in 1958 for the purpose of the income tax law, under the following circumstances: "Facts: A general partnership was organized sometime in November, 1958, and engaged immediately in buying and selling copra. Sometime in December, 1958, the partnership filed an application for registration with the Securities and Exchange Commission. On January 2, 1959, the Securities and Exchange Commission issued a certificate of registration in favor of the partnership. In February, 1959, it filed its income tax return showing a net profit." In reply thereto, you are informed that under the foregoing circumstances, the intention to organize a registered general partnership is obvious. It must be observed that the act of organization and the act of registration can never be accomplished simultaneously. In the instant case, barely a month and/half was consumed from the time of organization up to the release of the registration certificate. Under the circumstances, the partnership shall be considered a registered partnership from the date of its organization in November, 1958. casia Very truly yours, (SGD.) MELECIO R. DOMINGO Commissioner of Internal Revenue