Indiana DOR Issues Income Tax Information Bulletin on Pass-Through Entity Tax

The Indiana Department of Revenue (DOR) Oct. 1 issued a bulletin on the pass-through entity tax (PTET) for individual income, corporate income, and trust income tax purposes. The DOR provides: 1) entities eligible for the PTET are those treated as partnerships or S corporations for federal tax purposes, including LLCs classified as partnerships or opting for S corporation status; 2) estates and non-grantor trusts can’t choose the PTET, but they can elect to pass the PTET from another entity to their beneficiaries; 3) that certain entities aren’t eligible to make a PTET election; 4) information related to income inclusion for ...