864 – Payment of Estimated Tax.
§ 864. Payment of estimated tax. (a) Definition of estimated tax. Estimated tax means the amount that an electing partnership or electing S corporation estimates to be the tax imposed by section eight hundred sixty-two of this article for the current taxable year. (b) General. The estimated tax shall be paid as follows for an […]
865 – Filing of Return and Payment of Tax.
§ 865. Filing of return and payment of tax. (a) General. On or before March fifteenth following the close of the taxable year, each electing partnership and each electing S corporation must file a return for the taxable year reporting the information required pursuant to this article. For each electing partnership and each electing S […]
866 – Procedural Provisions.
§ 866. Procedural provisions. (a) General. All provisions of article twenty-two of this chapter will apply to the provisions of this article in the same manner and with the same force and effect as if the language of article twenty-two of this chapter had been incorporated in full into this article and had been specifically […]
862 – Imposition and Rate of Tax.
§ 862. Imposition and rate of tax. A tax is hereby imposed for each taxable year on the pass-through entity taxable income of every electing partnership and every electing S corporation. This tax shall be in addition to any other taxes imposed under this chapter and shall be determined in accordance with the following table: […]
863 – Pass-Through Entity Tax Credit.
§ 863. Pass-through entity tax credit. (a) Personal income tax credit. (1) A taxpayer subject to tax under article twenty-two of this chapter that is a direct partner or member in an electing partnership or a direct shareholder of an electing S corporation subject to tax under this article shall be allowed a credit against […]
861 – Pass-Through Entity Tax Election.
§ 861. Pass-through entity tax election. (a) Any eligible partnership or eligible S corporation shall be allowed to make an annual election to be taxed pursuant to this article. (b) In order to be effective, the annual election must be made (1) if the entity is an S corporation, by any officer, manager or shareholder […]
860 – Definitions.
§ 860. Definitions. For purposes of this article: (a) Eligible partnership. Eligible partnership means any partnership as provided for in section 7701(a)(2) of the Internal Revenue Code that has a filing requirement under paragraph one of subsection (c) of section six hundred fifty-eight of this chapter other than a publicly traded partnership as defined in […]