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Table of Contents
Page
MEMORANDUM FINDINGS OF FACT AND OPINION...................... 5
I. Introduction........................................... 5
II. Generally Applicable Provisions of Law................. 6
A. Period of Limitations Applicable to Assessment
of Partnership Items............................... 6
B. Affirmative Defense; Burden of Proof; Importance
of Contract Principles............................. 8
III. AVA.................................................... 9
A. FINDINGS OF FACT................................... 9
1. Formation of AVA; Certificate of
Limited Partnership.............................. 9
2. Agreement of Limited Partnership................. 10
3. AMCOR; Agreement To Make AMCOR Co-General
Partner; Amendment of AVA Certificate............ 14
4. Partnership Returns.............................. 15
5. Designation of TMP............................... 16
6. Consent To Extend the Time To Assess Tax......... 17
7. AVA FPAA......................................... 18
B. OPINION............................................ 18
1. 1984 Taxable Year................................ 18
a. Introduction.................................. 18
b. Requirement That Partnership Make a Return
Signed by a Partner........................... 19
c. California Revised Limited Partnership
Act; AVA Limited Partnership Agreement........ 20
d. AMCOR Was Not a General Partner in the
Partnership on February 1, 1985............... 21
e. AVA’s Other Arguments......................... 24
(1) Stipulation.............................. 24
(2) Agency................................... 24
(3) Miscellaneous............................ 27
f. Conclusion.................................... 27
2. 1985 Taxable Year................................ 27
a. Introduction.................................. 27
b. Code and Regulations.......................... 28
c. September 30 Letter Designates TMP............ 29
d. Timelines of Designation...................... 33
e. AVA’s Other Arguments......................... 34
f. Conclusion.................................... 36
IV. AVF.................................................... 36
A. FINDINGS OF FACT................................... 36
B. OPINION............................................ 37
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Last modified: May 25, 2011