When Must a Partnership File Its Return

question 42

Multiple Choice

When must a partnership file its return?

• A) By the 15th day of the 4th month after the partnership's tax year end
• B) By the sixth month after the original due date if an extension is filed
• C) By the 15th day of the 3rd month after the partnership's tax year end
• D) By the 15th day of the 4th month after the partnership's tax year end and by the sixth month after the original due date if an extension is filed
• E) By the sixth month after the original due date if an extension is filed and by the 15th day of the 3rd month after the partnership's tax year end

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Definitions:

Income Taxes

Taxes levied by governments on the income generated by businesses and individuals within their jurisdiction.

Formal Written Statement

A document that articulates official information or positions in a structured and official manner.

Merchandise Purchases

Transactions involving the buying of goods for resale, typically recorded as inventory in a business's accounting records.

Gross Profit

The difference between revenue and the cost of goods sold before deduction of overheads, payroll, taxation, and interest payments.