Sec. 10. (a) Except as provided in subsection (b), every
partnership doing business in this state, every partnership any partner of which is a resident, and every partnership which has gross income derived from sources within this state, shall make a return for each taxable
year on a form to be prescribed by the department, which return shall correspond with the returns required by Section 6031 of the Internal Revenue Code, insofar as consistent with the provisions of this article. However, this section shall not be construed to render any partnership a taxpayer under this article.
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Terms Used In Indiana Code 6-3-4-10
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(1) federal income tax Schedule K-1 (Form 1065) Partner’s Share of Income, Credits, Deductions, Etc.; or
(2) federal income tax Schedule K-1 (Form 1120S) Shareholder’s Share of Income, Credits, Deductions, Etc.;
with an annual return filed with the department. However, a federal income tax schedule described in this subsection must be available for inspection upon request by the department.
Formerly: Acts 1963(ss), c.32, s.410. As amended by P.L.2-1987, SEC.20; P.L.18-1994, SEC.10.
