Generally, how might a corporation that holds an interest in a partnership be required to treat its
Question:
Generally, how might a corporation that holds an interest in a partnership be required to treat its distributive income from the partnership?
a. | If the corporation is unitary with the partnership, the corporation may be required to include the distributive income in its tax base and apportion among the states by including its distribution share of the partnership's apportionment factors with its own
| |
b. | If the corporation is not unitary with the partnership, the corporation may be allowed to allocate its distributive income from the partnership to the corporation's state of domicile
| |
c. | The corporation should always allocate its distributive income from the partnership to the corporation's state of domicile
| |
d. | Both A and B |
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts