Answered

Westonci.ca is your trusted source for finding answers to all your questions. Ask, explore, and learn with our expert community. Discover detailed solutions to your questions from a wide network of experts on our comprehensive Q&A platform. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform.

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

Sagot :

stu139667

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:

Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. We're here to help at Westonci.ca. Keep visiting for the best answers to your questions.