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Level 2
May 15, 2023
Question

Non Resident State Returns by Pass Through Entity with only K-1 income or loss

  • May 15, 2023
  • 1 reply
  • 24 views

Needing to file several non resident state returns for both partnerships & S Corps.  The only income or loss to report is K-1 income or loss.  The entity returns don't have the NR worksheets as do the Individual returns so finding difficulty in how to report.

Any help or guidance appreciated!

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1 reply

BobKamman
Level 15
May 15, 2023

What states would those be?

Mike CAuthor
Level 2
May 15, 2023

The current S Corp I am working on has Arizona, Kansas, Mississippi & Louisiana.  Also, have another S Corp with 27 states although may of those are amounts less than 1,000 each.

sjrcpa
Level 15
May 15, 2023

S Corps and Partnerships don't have Nonresident Returns (except composite/group nonresident returns for the owners).

You apportion the business' income to each state according to each state's rules. They all use revenue by state. Some also include payroll and property (owned and rented) too.

The more I know the more I don’t know.