Fuller Tax Blog Blog

IL Partnerships: What is an Investment Partnership?

On an Illinois partnership return (i.e. Illinois Form IL-1065), the form asks for all sorts of identifying information regarding the partnership, but one of the questions, found on Question F, more particularly asks whether the partnership is “classified as an investment partnership”: What is an “Investment Partnership”? It’s not uncommon for states to distinguish “investment partnerships” from other partnerships, and...

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NY Partnerships: Article 22 Partners v. Article 9-A Partners

The instructions and guidance given by the New York State Department of Taxation and Finance in relation to partnerships in New York will very often make a distinction between so-called “Article 22 Partners” and “Article 9-A Partners”, but the Department also doesn’t exactly make it easy to tell what the difference between these two types of partners really is. However,...

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Where do I find the Pennsylvania Revenue ID for a Corporation?

Oftentimes when preparing tax compliance forms for the state of Pennsylvania, such as Form RCT-101, the preparer may not know what to put on the form when they see a line like the following: If you’re confused about what the Pennsylvania Revenue ID for a corporation is or how to find it, read on. What is a Pennsylvania Revenue ID?...

Picture of Part I of California Form 540NR Schedule CA with questions regarding taxpayer residency status.

Fuller Announces Release of 20-Credit Hour CTEC Continuing Education Bundle for California Tax Professionals

Fuller Professional Education has announced the release of this year’s CTEC Continuing Education bundle for California tax professionals. The complete 20.0 credit hour continuing education bundle contains all the necessary continuing education coursework for California tax preparers who wish to renew their license for the coming tax season. Because Fuller Professional Education is an accredited provider with both the California...

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Taxable v. Tax-Exempt Interest for Federal Income Tax Purposes

Generally, all income a taxpayer earns will be taxed on their federal tax return. In fact, the tax law (i.e. the Internal Revenue Code) states that federal income tax is assessed on “all income from whatever source derived”. The law even provides an extensive list of items that counts as part of the taxpayer’s income, and one of those items...