Who is an eligible shareholder that can be included in a composite return?
An eligible shareholder is an individual who is a nonresident of North Dakota and does not have any North Dakota income from other than the S corporation or any other S corporation, partnership, trust, or limited liability company (filing as a partnership or S corporation). The composite return and the S corporations payment of the income tax calculated on it satisfies the North Dakota income tax filing and payment obligations of the eligible shareholders who elected to be included in the composite return.
Related Questions
- A shareholder or partner has Indiana-source income other than K-1 income. Should the shareholder or partner still be included on the composite return?
- Must all nonresident shareholders, partners, or members be included on the composite return?
- Who is an eligible shareholder that can be included in a composite return?
