Iowa Admin. Code r. 701-45.1

Current through Register Vol. 47, No. 6, September 18, 2024

Rule 701-45.1 - General rule

An Iowa partnership, limited partnership, or limited liability company required to file a return under the provisions of Iowa Code subsection 42215(2). shall be a partnership, limited partnership, or limited liability company required to file a partnership return for purposes of federal income tax. A partnership or limited liability company engaged in carrying on business in this state is an Iowa partnership or an Iowa limited liability company. Iowa follows the Treasury check-the-box regulation, 3 01.7701-3, for determination of the tax status of partnerships or limited liability companies including single-member limited liability companies.

This rule is intended to implement Iowa Code section 42215..