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Home > Tax News > January 2010 | |||||||||||||||||||||||||||||||||||||||||||
TAX NEWS - January 2010 | |||||||||||||||||||||||||||||||||||||||||||
Income/Franchise Tax - Alabama: New rules on pass-through entity composite filing- Composite returns and composite payment requirements for pass-through entities, which are effective for taxable years beginning on or after January 1, 2009, and - Gross income and asset requirements for classification as a "qualified investment partnership (QIP)" for tax periods beginning on or after January 1, 2009. In Alabama, a pass-through entity is now required to file a composite return and make composite payments on behalf of its nonresident owners/members if there are one or more nonresident owners/members at any time during the taxable year. | |||||||||||||||||||||||||||||||||||||||||||
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