Section 206.4 – “Business Income” Defined.
206.4 “Business income” defined. Sec. 4. “Business income” means all income arising from transactions, activities, and sources in the regular course of the taxpayer’s trade or business and includes the following: (a) All income from tangible and intangible property if the acquisition, rental, management, or disposition of the property constitutes integral parts of the taxpayer’s […]
Section 206.6 – “Commercial Domicile,” “Compensation,” and “Corporation” Defined.
206.6 “Commercial domicile,” “compensation,” and “corporation” defined. Sec. 6. (1) “Commercial domicile” means the principal place from which the trade or business of the taxpayer is directed or managed. (2) “Compensation” means wages as defined in section 3401 and other payments as provided in section 3402 of the internal revenue code. (3) “Corporation” means, in […]
Section 206.8 – Definitions; D, E.
206.8 Definitions; D, E. Sec. 8. (1) “Department” means the revenue division of the department of treasury. (2) “Dependent” means a dependent as defined in section 152 of the internal revenue code. (3) “Employee” means an employee as defined in section 3401(c) of the internal revenue code. Any person from whom an employer is required […]
Section 206.10 – “Fiduciary” Defined.
206.10 “Fiduciary” defined. Sec. 10. “Fiduciary” means a guardian, trustee, executor, administrator, executrix, administratrix, receiver, conservator, or any person acting in any fiduciary capacity, whether or not a resident of this state. History: 1967, Act 281, Eff. Oct. 1, 1967 ;– Am. 1971, Act 76, Imd. Eff. July 30, 1971 ;– Am. 1972, Act 181, […]
Section 206.12 – Definitions; F to N.
206.12 Definitions; F to N. Sec. 12. (1) “Flow-through entity” means an S corporation, partnership, limited partnership, limited liability partnership, or limited liability company. Flow-through entity does not include a publicly traded partnership as that term is defined in section 7704 of the internal revenue code that has equity securities registered with the securities and […]
Section 206.14 – Nonbusiness Income, Nonresident and Nonresident Estate or Trust; Definitions.
206.14 Nonbusiness income, nonresident and nonresident estate or trust; definitions. Sec. 14. (1) “Nonbusiness income” means all income other than business income. (2) “Nonresident” means any individual who is not a resident. (3) “Nonresident estate or trust” means any estate or trust not included in the definition of a resident estate or trust. History: 1967, […]
Section 206.16 – Person; Definition.
206.16 Person; definition. Sec. 16. “Person” includes any individual, firm, association, corporation, receiver, estate, trust or any other group or combination acting as a unit, and the plural as well as the singular number. History: 1967, Act 281, Eff. Oct. 1, 1967