Answered

IDNLearn.com offers a reliable platform for finding accurate and timely answers. Our platform offers reliable and detailed answers, ensuring you have the information you need.

Is this a passive entity as defined in chapter 171 of the texas tax code?.

Sagot :

Stu139667idn

Answer:To qualify as a passive entity, the entity must be a partnership or trust, other than a business trust, for the entire accounting period on which the tax is based. The entity may not qualify as passive for the accounting period during which the conversion occurs even if it meets the 90 percent income test.

Explanation:

We are happy to have you as part of our community. Keep asking, answering, and sharing your insights. Together, we can create a valuable knowledge resource. IDNLearn.com has the answers you need. Thank you for visiting, and we look forward to helping you again soon.