Iowa Admin. Code r. 871-22.10

Current through Register Vol. 47, No. 11, December 11, 2024

Rule 871-22.10 - [Effective 12/18/2024] Report of a partnership on change in partners

(1) If a partnership alters its ownership structure and the Internal Revenue Service does not require the partnership to obtain a new federal identification number, the partnership has ten days to notify the department of the change. The department will subsequently update the partnership account to reflect this change.

(2) If the Internal Revenue Service requires the partnership to obtain a new federal identification number, or if there has been a change of ownership as described in Iowa Code section 96.1A(16)"b" or rule 871-23.28 (96), then the old partnership has ten days to electronically file the change of ownership with the department and to complete a registration.

This rule is intended to implement Iowa Code section 96.11(6).

Iowa Admin. Code r. 871-22.10

Amended by IAB August 30, 2017/Volume XL, Number 5, effective 10/4/2017

Amended by IAB October 11, 2017/Volume XL, Number 8, effective 11/15/2017

Adopted by IAB November 13, 2024/Volume XLVII, Number 10, effective 12/18/2024