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Partnership Income Tax

  • Partnership Income Tax


Sections 40-18-22, 40-18-24.2, 40-18-24.3, and 40-18-28, Code of Alabama 1975. This is a component of Individual and Corporate Income Tax.

Partnerships are a pass-through entity. Income is calculated on the partnership informational return, Form 65. The income is reported and taxes paid on the partners’ (individual or corporate) income tax returns.

Portion necessary to reimburse the Property Tax Relief Fund for Homestead Exemptions. The remaining balance to the Education Trust Fund.