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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:

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