§ 15-30-3325

15-30-3325. Definitions. As used in 15-30-3326 through 15-30-3328 and this section, unless the context clearly indicates otherwise, the following definitions apply: (1) 'Electing pass-through entity' means a partnership or an S. corporation that elects to be subject to an entity tax. (2) 'Entity tax' means a tax that an electing pass-through entity elects to pay under 15-30-3325 through 15-30-3328 and this section. (3) 'Nonresident owner' means an individual, estate, or trust that is not a resident owner. (4) 'Owner' means a shareholder of an S. corporation or a partner in a partnership. (5) 'Resident owner' means an individual, estate, or trust owner that is a resident of the state. History: En. Sec. 1, Ch. 702, L. 2023.