What are the rules for an entity, such as a limited partnership, that would have become subject to the franchise tax on 1/1/08 but ended its existence before that date?
If the entity ended its existence after 06/30/07 but before 01/01/08, they must file a final report based on the margin calculation. The date the entity ceased to exist is the accounting period ending date. The entity should file the appropriate form – E-Z Calculation, No Tax Due, or Long Form – and write “Transition Final” at the top of the report.
Related Questions
- What are the rules for an entity, such as a limited partnership, that would have become subject to the franchise tax on 1/1/08 but ended its existence before that date?
- What if the entity ends its responsibility for franchise tax in the same year it first became subject to the tax?
- My business, a limited partnership, is now subject to the franchise tax. How do I get a taxpayer number?
