Alabama Qualified Investment Partnership Certification
Extracted from PDF file 2020-alabama-schedule-qip-c.pdf, last modified July 2019
Qualified Investment Partnership CertificationSCHEDULE QIP-C 8/2017 *XX0008QP* 20 RESET ALABAMA DEPARTMENT OF REVENUE ______ Qualified Investment Partnership Certification Beginning ___________________, 20_____ and ending _____________________, ________ 1a. LEGAL NAME OF PARTNERSHIP 1b. FEIN 2. Asset Test: According to §40-18-24.2, Code of Alabama 1975, a Qualified Investment Partnership (QIP) shall have no less than 90% of the cost of its total assets invested in qualifying investment securities, office facilities, and tangible personal property reasonably necessary to carry on its activity in the State of Alabama as an investment partnership. Average Qualifying Asset Percentage for the Taxable Year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 % 3 % 3. Gross Income Test: According to §40-18-24.2, Code of Alabama 1975, a QIP shall have no less than 90% of its gross income from interest, dividends, distributions, and gains/losses from the sale or exchange of qualifying investment securities, and management fees paid by its members. Qualifying Gross Income Percentage for the Taxable Year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4. 6 Check if a nonresident owner actively participates in the day-to-day management of the QIP. Please provide the nonresident owner’s name and tax identification number below. 5. 6 Check if the QIP invests in the qualifying investment securities of any entity majority-owned by a nonresident member. Please provide the nonresident owner’s name and tax identification number below. 6. 6 Check if any nonresident owner of the QIP is also a QIP. Please provide the nonresident owner’s name and tax identification number below. 7. 6 Check if the entity, at any time during the taxable year, had as an owner or member a person who is other than a United States person, as defined in 26 U.S.C. §7701. Please provide the nonresident owner’s name and tax identification number below. Name: ___________________________________________________________ Tax ID: ____________________________________ Name: ___________________________________________________________ Tax ID: ____________________________________ Name: ___________________________________________________________ Tax ID: ____________________________________ I certify that for this tax period this entity meets the criteria as a QIP as required by §40-18-24.2, Code of Alabama 1975. Further, under penalties of perjury, I certify that I have examined this certification and to the best of my knowledge it is true, correct, and complete. Signature of Owner/Partner/Member: ___________________________________________________________ Date: ________________________ Title: ___________________________________________________________________________ In order to be considered valid, this certification must be timely filed with the Alabama Partnership Income Tax return for the taxable year. ADOR
More about the Alabama Schedule QIP-C Corporate Income Tax TY 2020
We last updated the Qualified Investment Partnership Certification in April 2021, so this is the latest version of Schedule QIP-C, fully updated for tax year 2020. You can download or print current or past-year PDFs of Schedule QIP-C directly from TaxFormFinder. You can print other Alabama tax forms here.
Other Alabama Corporate Income Tax Forms:
|Form Code||Form Name|
|Form 41||Fiduciary Income Tax Return|
|Form PTE-V (Obsolete)||Pass Through Entities Payment Voucher|
|Form FDT-V||Fiduciary Income Tax Payment Voucher|
|Form 65||Partnership / Limited Liability Company Return of Income|
|Form ADV-40||Business Personal Property Return|
Alabama usually releases forms for the current tax year between January and April. We last updated Alabama Schedule QIP-C from the Department of Revenue in April 2021.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Alabama Schedule QIP-C
We have a total of ten past-year versions of Schedule QIP-C in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
While we do our best to keep our list of Alabama Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.