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Form 20S or Form PTE-C income tax returns. WHO MUST FILE. Taxpayers submitting a payment for income taxes due on a Form 20S or Form PTE-C must complete a Form PTE-V and submit it and the required payment with the tax return unless the payment is made electronically. A Form PTE-V must also be prepared and submitted with any income tax estimated payment or any income tax extension payment. A Form PTE-V is never required whenever the taxpayer is making an electronic payment. WHEN TO FILE. A.

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The Electing Pass-Through Entity must submit Form PTE-E via My Alabama Taxes at any time during a subsequent tax year or on or before the fifteenth day of the third month following the close of that tax year for which the entity elects to no longer be taxed as an Electing Pass-Through Entity.

Yes, a partnership, or other entity classified as a Subchapter K entity, is required to file a composite return and make composite payments on behalf of its nonresident owners or members if there are one or more nonresident owners or members at any time during the taxable year.

What Is an Elective Pass-Through Entity Tax? The owners of a PTE are typically responsible for paying the taxes on the entity's taxable income. The optional tax allows eligible PTEs to shift the payment of state income taxes to the entity.

810-3-2-. 01- Individuals domiciled within Alabama (residents) are taxable on their income, whether earned within or without Alabama, subject to certain exclusions and exemptions as provided under Alabama income tax law, regardless of their physical presence within Alabama at any time during the taxable year.

Composite tax returns shift the administrative burden of filing and paying state taxes for income earned by non-resident owners to the multi-state pass-through entity (“PTE”) versus the owner or investor. Basically, a composite tax return is a group filing by some or all of the non-resident members of the PTE.

How to File Your Alabama Business Privilege Tax Return Find your business entity's due date and determine your filing fees. Download and complete your tax return. File your return and pay your business privilege tax.

The key benefit to a PTE election is the full federal deductibility of the entity's state income taxes paid with a PTE tax. While the income and tax reported is dependent on each state's rules, there is no federal limit to the amount of PTE tax that is deductible.

Form PTE-C is used to report Alabama taxable income for all or some of the nonresident owners/shareholders from reported Subchapter K entity or S corporation income and to make payment on behalf of the owners/shareholders in lieu of individual reporting. (CAUTION: Do not include losses on this form .)

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232