Indiana Code 25-34.1-11-5. “Person”
Current as of: 2023 | Check for updates
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Sec. 5. (a) As used in this chapter, “person” means an individual engaged in a trade or business, an association, a partnership, a limited partnership, a limited liability company, a corporation, or a similar entity.
(b) The term does not include an employee.
As added by P.L.77-2010, SEC.2.
Terms Used In Indiana Code 25-34.1-11-5
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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.