Arizona Laws 43-306. Partnership returns
A. Except as provided in subsections B and C of this section, every partnership shall make a return for each taxable year, stating the taxable income computed in accordance with subtitle A, chapter 1, subchapter K of the internal revenue code and any adjustments required pursuant to chapter 14 of this title. The return shall include the names and addresses of the individuals, whether residents or nonresidents, who would be entitled to share in the taxable income if distributed and the amount of the distributive share of each individual. The allocation and apportionment of income of a partnership that has nonresident partners shall be made pursuant to chapter 11, article 4 of this title. The return shall contain or be verified by a written declaration that it is made under the penalties of perjury and signed by one of the partners.
Terms Used In Arizona Laws 43-306
- Individual: means a natural person. See Arizona Laws 43-104
- Nonresident: means every individual other than a resident. See Arizona Laws 43-104
- 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.
- Partnership: includes a syndicate, group, pool, joint venture or other unincorporated organization, through or by means of which any business, financial operation or venture is carried on and that is not, within the meaning of this title, a trust, estate or corporation. See Arizona Laws 43-104
- Taxable year: means :
(a) The calendar year or the fiscal year, ending during such calendar year, on the basis of which the taxable income is computed under this title. See Arizona Laws 43-104
B. An out-of-state partnership that is temporarily in this state and whose only income in this state is from performing disaster recovery from a declared disaster during a disaster period as defined in section 42-1130 is not required to file a partnership return in this state.
C. A partnership that has no Arizona income, deductions or credits for a taxable year is not required to file a partnership return for that year.