§ 43-1411 – Partnership, individual partnership liability

43-1411. Partnership, individual partnership liability An individual carrying on a business in partnership shall be liable for income tax only in his individual capacity.

§ 43-1412 – Partner’s distributive share

43-1412. Partner’s distributive share In computing taxable income of each partner, he shall include, whether or not distribution is made to him, his distributive share of the partnership’s: 1. Gains and losses from sales or exchanges of capital assets computed pursuant to the internal revenue code. 2. Gains and losses from sales or exchanges of […]

§ 43-1413 – Year in which partnership income is includible

43-1413. Year in which partnership income is includible In computing the taxable income of a partner for a taxable year the inclusions required by section 43-1412 with respect to a partnership shall be based on the income, gain, loss, deduction or credit of the partnership for any taxable year of the partnership ending within or […]

§ 43-1414 – Federal assessment of imputed underpayment; definitions

43-1414. Federal assessment of imputed underpayment; definitions A. A partnership that is audited by the internal revenue service and that is assessed an imputed underpayment pursuant to section 6225 of the internal revenue code as added by the bipartisan budget act of 2015 (P.L. 114-74) or a partnership that makes the election under section 6226 […]