Schedule QIP-C "Qualified Investment Partnership Certification" - Alabama

What Is Schedule QIP-C?

This is a legal form that was released by the Alabama Department of Revenue - a government authority operating within Alabama. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on August 1, 2017;
  • The latest edition provided by the Alabama Department of Revenue;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of Schedule QIP-C by clicking the link below or browse more documents and templates provided by the Alabama Department of Revenue.

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Download Schedule QIP-C "Qualified Investment Partnership Certification" - Alabama

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20
QIP-C
SCHEDULE
XX0011QP
RESET
______
A
D
R
LABAMA
EPARTMENT OF
EVENUE
Qualified Investment Partnership Certification
8/2017
Beginning ___________________, 20_____ and ending _____________________, ________
1a. LEGAL NAME OF PARTNERSHIP
1b. FEIN
2. Asset Test: According to §40-18-24.2, Code of Alabama 1975, a Qualified Investment
Partnership (QIP) shall have no less than 90% of the cost of its total assets invested in qualifying
investment securities, office facilities, and tangible personal property reasonably necessary to
carry on its activity in the State of Alabama as an investment partnership.
2
%
Average Qualifying Asset Percentage for the Taxable Year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3. Gross Income Test: According to §40-18-24.2, Code of Alabama 1975, a QIP shall have no less
than 90% of its gross income from interest, dividends, distributions, and gains/losses from the sale
or exchange of qualifying investment securities, and management fees paid by its members.
3
%
Qualifying Gross Income Percentage for the Taxable Year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4.
Check if a nonresident owner actively participates in the day-to-day management of the QIP. Please provide the nonresident
owner’s name and tax identification number below.
5.
Check if the QIP invests in the qualifying investment securities of any entity majority-owned by a nonresident member. Please
provide the nonresident owner’s name and tax identification number below.
6.
Check if any nonresident owner of the QIP is also a QIP. Please provide the nonresident owner’s name and tax identification
number below.
7.
Check if the entity, at any time during the taxable year, had as an owner or member a person who is other than a United States
person, as defined in 26 U.S.C. §7701. Please provide the nonresident owner’s name and tax identification number below.
Name: ___________________________________________________________ Tax ID: ____________________________________
Name: ___________________________________________________________ Tax ID: ____________________________________
Name: ___________________________________________________________ Tax ID: ____________________________________
I certify that for this tax period this entity meets the criteria as a QIP as required by §40-18-24.2, Code of Alabama 1975. Further,
under penalties of perjury, I certify that I have examined this certification and to the best of my knowledge it is true, correct, and
complete.
Signature of
Owner/Partner/Member: ___________________________________________________________ Date: ________________________
Title: ___________________________________________________________________________
In order to be considered valid, this certification must be timely filed with the Alabama Partnership Income Tax return for the
taxable year.
ADOR
20
QIP-C
SCHEDULE
XX0011QP
RESET
______
A
D
R
LABAMA
EPARTMENT OF
EVENUE
Qualified Investment Partnership Certification
8/2017
Beginning ___________________, 20_____ and ending _____________________, ________
1a. LEGAL NAME OF PARTNERSHIP
1b. FEIN
2. Asset Test: According to §40-18-24.2, Code of Alabama 1975, a Qualified Investment
Partnership (QIP) shall have no less than 90% of the cost of its total assets invested in qualifying
investment securities, office facilities, and tangible personal property reasonably necessary to
carry on its activity in the State of Alabama as an investment partnership.
2
%
Average Qualifying Asset Percentage for the Taxable Year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3. Gross Income Test: According to §40-18-24.2, Code of Alabama 1975, a QIP shall have no less
than 90% of its gross income from interest, dividends, distributions, and gains/losses from the sale
or exchange of qualifying investment securities, and management fees paid by its members.
3
%
Qualifying Gross Income Percentage for the Taxable Year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4.
Check if a nonresident owner actively participates in the day-to-day management of the QIP. Please provide the nonresident
owner’s name and tax identification number below.
5.
Check if the QIP invests in the qualifying investment securities of any entity majority-owned by a nonresident member. Please
provide the nonresident owner’s name and tax identification number below.
6.
Check if any nonresident owner of the QIP is also a QIP. Please provide the nonresident owner’s name and tax identification
number below.
7.
Check if the entity, at any time during the taxable year, had as an owner or member a person who is other than a United States
person, as defined in 26 U.S.C. §7701. Please provide the nonresident owner’s name and tax identification number below.
Name: ___________________________________________________________ Tax ID: ____________________________________
Name: ___________________________________________________________ Tax ID: ____________________________________
Name: ___________________________________________________________ Tax ID: ____________________________________
I certify that for this tax period this entity meets the criteria as a QIP as required by §40-18-24.2, Code of Alabama 1975. Further,
under penalties of perjury, I certify that I have examined this certification and to the best of my knowledge it is true, correct, and
complete.
Signature of
Owner/Partner/Member: ___________________________________________________________ Date: ________________________
Title: ___________________________________________________________________________
In order to be considered valid, this certification must be timely filed with the Alabama Partnership Income Tax return for the
taxable year.
ADOR