Investment Club

Investment Club means:
a group of people who pool assets to make joint investment decisions. To start, each member of the club contributes a certain amount of capital, with additional money to be invested every month or quarter. Decisions on which stocks and bonds to buy are made by a vote of members. In reality, such a club is a partnership, but the members can elect out of filing a partnership tax return and include any income directly on their personal income tax returns.

See the entries Income Tax and State Income Tax in the American Encyclopedia of Law.