FDNY Posted March 25, 2019 Report Share Posted March 25, 2019 I have a client who is a shareholder in an S Corp that did business in Louisiana. His share of tax liability to LA has been paid on his behalf by the S Corp. The only place I can see to enter the amount other than estimated tax, is line 30 on non res return that states, "Amount Paid on your behalf by a Composite Partnership filing." The worksheet does not have a place for a corporate filing. I can guess which one to use but would rather not because a know there is someone here that is a veteran of a few Mardi Gras'. Thanks in advance. Quote Link to comment Share on other sites More sharing options...
Lee B Posted March 25, 2019 Report Share Posted March 25, 2019 Wouldn't this payment be a shareholder distribution ? Quote Link to comment Share on other sites More sharing options...
FDNY Posted March 25, 2019 Author Report Share Posted March 25, 2019 Quote Yes, it's included in distributions. There was a footnote attached to K1 that LA income tax was paid on his behalf. Does this every year for various states, first time LA. Quote Link to comment Share on other sites More sharing options...
FDNY Posted March 25, 2019 Author Report Share Posted March 25, 2019 My mistake, should have checked before I asked, it looks like in LA individual shareholders don't have to file a separate return when taxes paid on their behalf by S Corp. MS is another one that I had last year and totally forgot about it. Thanks Lee. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.