Tag Archives: PARTNERSHIP

SUMMARY OF TAXING INCOME FOR PARTNERSHIPS (PH) AND PARTNERS

Taxable PH Tax exempt PH     GPPH/JV or Consortium for CP/EO All other PH       Extension of the partners Corporation   Calendar/Fiscal accounting period Calendar accounting period only for GPPH QF/P – within 60 days ff. close … Continue reading

Posted in Taxation | Tagged , , | Leave a comment

CO-OWNERSHIP

Is a co-ownership taxable? Generally no, because the activities of the co-owners are usually limited to the preservation of the property owned in common and collection of the income therefrom.   What is the tax liability of the co-owners? They … Continue reading

Posted in Taxation | Tagged , | Leave a comment