California Revenue and Taxation Code 6010.4 – If two or more persons engaged in the production and distribution of …
Current as of: 2024 | Check for updates
|
Other versions
If two or more persons engaged in the production and distribution of motion pictures for use in any media form a partnership for the purpose of reducing the cost of producing motion pictures through the sharing of the use of equipment, studio facilities and the services of personnel, the furnishing (without transferring title to tangible personal property) of such equipment, facilities and services by the partnership to its members for the purpose of the production of motion pictures by its members shall not constitute either a “sale” or “purchase.”
(Added by Stats. 1972, Ch. 640.)
Terms Used In California Revenue and Taxation Code 6010.4
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- partnership: shall include limited liability company, registered limited liability partnership, and foreign limited liability partnership, except where the context or the specific provisions of this division otherwise require. See California Revenue and Taxation Code 28.5