Entity liability of entities exempt for federal income taxation
IC 6-2.3-2-4 Sec. 4. Every S corporation or other entity exempt from
federal income taxation under Section 1361 of the Internal Revenue
Code, partnership, limited liability company, and limited liability
partnership, is liable for the utility receipts tax. No utility receipts tax
liability is imposed under this article on a partner's, member's,
beneficiary's, or shareholder's distributive share of the entity's gross
income.
As added by P.L.192-2002(ss), SEC.47.
Last modified: May 28, 2006