Composite return definition
Composite return means the IA PTE-C Iowa composite return, which reports information about the Iowa-source income or other amounts credited or paid to each nonresident member of the pass-through entity, the amount of composite return tax due on behalf of each nonresident member of the pass-through entity, and such other information as the department may require.
Composite return means a return filed by an entity treated as an S
Composite return means any Tax Return filed by the Companies in any state or local jurisdiction (whether separately filed or combined with another Tax Return of the Companies) whereby the Companies are permitted to report and pay on a “composite” basis the personal income tax liability of those individuals comprising the Seller who are non-residents of such state or locality with respect to the apportioned income or gain of the Companies taxable to such individuals comprising the Seller in such state or locality.