TaxTMI Login
Just a moment...
By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All TMI Notes
of of All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Section 311: Taxing AOP/BOI Income at Highest Marginal Rate When Members' Shares Are Indeterminate, With Higher Personal Rates Applied</h1> Section 311 prescribes taxing an AOP/BOI's total income at the maximum marginal rate when members' shares are indeterminate, except that if any member's personal tax rate exceeds that maximum, the higher rate applies; where shares are determinate, income portions attributable to higher-rate members are taxed at their rates and the balance at the maximum marginal rate. A deeming rule treats indeterminacy at formation or later as sufficient. The Bill and the Act are substantively aligned; differences are drafting and ordering, with the Bill slightly clearer in tying the exempt threshold to the Finance Act.
TaxTMI 
TaxTMI 