Schedule BPT-E "Family Limited Liability Entity Election Form" - Alabama

What Is Schedule BPT-E?

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:

  • The latest edition provided by the Alabama Department of Revenue;
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  • Fill out the form in our online filing application.

Download a printable version of Schedule BPT-E by clicking the link below or browse more documents and templates provided by the Alabama Department of Revenue.

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BPT-E
2018
SCHEDULE
BUSINESS PRIVILEGE
TAX YEAR
XX0008BE
Alabama Department of Revenue
Family Limited Liability Entity Election Form
(DISREGARDED ENTITIES DO NOT QUALIFY FOR THE FAMILY LIMITED LIABILITY ENTITY ELECTION)
1c Determination Period End Date
(Balance Sheet Date):
1a FEIN
1b ELECTING FAMILY LIMITED LIABILITY ENTITY
(mm/dd/yyyy)
The following information must be provided in order for this election to be effective.
PART 1 – 80% OWNERSHIP TEST ( ATTACH SUPPORTING DOCUMENTATION )
Partners’ capital account from Form 1065, Schedule L: . . . . . . . . . . . . . . . . . . . . . . . . . $
Percentages of partners’ capital accounts that are directly or constructively owned by:
Primary Partner: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
Spouse: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
Parents: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
Grandparents: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
Lineal descendants of grandparents: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
PART 2 – TAXPAYER MUST COMPLETE AT LEAST ONE OF THE FOLLOWING. ( ATTACH SUPPORTING DOCUMENTATION )
(a) Gross Receipts Test: 90% or more of the gross receipts of the entity consist of any combination of the following:
(i)
Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
(ii) Dividends/distributions/payments on stock or securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
(iii) Rents, license fees or other fees for use of property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
(iv) Receipts from sale or leasing of timber or timberland . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
(v) Royalties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
(vi) Annuity payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
(vii) Proceeds from sale of asset not in ordinary course of business . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
(b) Assets Test: The aggregate adjusted basis of the following assets constitutes at least 90% of the adjusted basis of
all of the entity’s assets:
(i)
Cash or cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
(ii) Stocks, bonds, debentures, notes or other securities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
(iii) Timber or timberlands. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
(iv) Annuities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
(v) Assets held principally for appreciation and not production of income. . . . . . . . . . . . . . . . . . . . . .
%
(vi) Mutual funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
(vii) Assets not used directly in the conduct of the entity’s business . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
(viii) Royalty interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
This entity is making an election to be an electing family limited liability entity as described in Code of Alabama 1975, §40-14A-1(h).
The signature on page 1 of Form PPT or Form BPT-IN is certification that the profits and capital interests of the entity were calculated
using the constructive ownership rules of 26 U.S.C. §318, without regard to the 50% limitation contained in 26 U.S.C. §318(a)(2)(C)
and 26 U.S.C. §318(a)(3)(C).
ADOR
BPT-E
2018
SCHEDULE
BUSINESS PRIVILEGE
TAX YEAR
XX0008BE
Alabama Department of Revenue
Family Limited Liability Entity Election Form
(DISREGARDED ENTITIES DO NOT QUALIFY FOR THE FAMILY LIMITED LIABILITY ENTITY ELECTION)
1c Determination Period End Date
(Balance Sheet Date):
1a FEIN
1b ELECTING FAMILY LIMITED LIABILITY ENTITY
(mm/dd/yyyy)
The following information must be provided in order for this election to be effective.
PART 1 – 80% OWNERSHIP TEST ( ATTACH SUPPORTING DOCUMENTATION )
Partners’ capital account from Form 1065, Schedule L: . . . . . . . . . . . . . . . . . . . . . . . . . $
Percentages of partners’ capital accounts that are directly or constructively owned by:
Primary Partner: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
Spouse: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
Parents: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
Grandparents: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
Lineal descendants of grandparents: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
PART 2 – TAXPAYER MUST COMPLETE AT LEAST ONE OF THE FOLLOWING. ( ATTACH SUPPORTING DOCUMENTATION )
(a) Gross Receipts Test: 90% or more of the gross receipts of the entity consist of any combination of the following:
(i)
Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
(ii) Dividends/distributions/payments on stock or securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
(iii) Rents, license fees or other fees for use of property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
(iv) Receipts from sale or leasing of timber or timberland . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
(v) Royalties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
(vi) Annuity payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
(vii) Proceeds from sale of asset not in ordinary course of business . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
(b) Assets Test: The aggregate adjusted basis of the following assets constitutes at least 90% of the adjusted basis of
all of the entity’s assets:
(i)
Cash or cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
(ii) Stocks, bonds, debentures, notes or other securities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
(iii) Timber or timberlands. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
(iv) Annuities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
(v) Assets held principally for appreciation and not production of income. . . . . . . . . . . . . . . . . . . . . .
%
(vi) Mutual funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
(vii) Assets not used directly in the conduct of the entity’s business . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
(viii) Royalty interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
This entity is making an election to be an electing family limited liability entity as described in Code of Alabama 1975, §40-14A-1(h).
The signature on page 1 of Form PPT or Form BPT-IN is certification that the profits and capital interests of the entity were calculated
using the constructive ownership rules of 26 U.S.C. §318, without regard to the 50% limitation contained in 26 U.S.C. §318(a)(2)(C)
and 26 U.S.C. §318(a)(3)(C).
ADOR