15-30-3325. Definitions.
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/mt/title-15/chapter-30/part-33/15-30-3325·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
15-30-3325 . Definitions. As used in 15-30-3326 through 15-30-3328 and this section, unless the context clearly indicates otherwise, the following definitions apply:
(1)"Electing pass-through entity" means a partnership or an S. corporation that elects to be subject to an entity tax.
(2)"Entity tax" means a tax that an electing pass-through entity elects to pay under 15-30-3325 through 15-30-3328 and this section.
(3)"Nonresident owner" means an individual, estate, or trust that is not a resident owner.
(4)"Owner" means a shareholder of an S. corporation or a partner in a partnership.
(5)"Resident owner" means an individual, estate, or trust owner that is a resident of the state.