Re NC D403 Partnership Returns.


This requirement was changed several years ago an our club was also unaware
of this.

Our club used to send them until 4 years ago when my accountant advised me
of this.

We haven't sent one in since 2002 and never heard word from the NCDOR.

I'm not in jail yet.

Arthur Klages, Treas.
SeniorInvestment Club
Greensboro NC


-----Original Message-----
From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of Phil and
Sandy Starr
Sent: Saturday, August 11, 2007 1:55 PM
To: The Club Cafe
Subject: Re: club_cafe: Re: out of state potential member/s?

I can't open your first link, but the second one is pretty clear!!! Do you
think I just shouldn't send them the usual stuff this year or do I need to
write them a letter explaining why I am not sending the usual?
 
----- Original Message -----

        From: IraS1@aol.com
        To: club_cafe@bivio.com
        Sent: Saturday, August 11, 2007 1:25 PM
        Subject: Re: club_cafe: Re: out of state potential member/s?

        
        In a message dated 8/11/2007 1:05:06 P.M. Eastern Daylight Time,
starrwp@earthlink.net writes:

                My Investment Club is in North Carolina and we have to file
an income tax
                form to the State. I file a D-403 Partnership Income Tax
Return and I
                include 403 part 3.A. We are an investment club and our
sole activity is
                investing. The State has never said I didn't need to file
it.
                
                

        According to the instructions for NC Form D-403, certain investment
partnerships are exempt from filing. For specifics see Directives PD-04-1
http://www.dornc.com/practitioner/individual/directives/pd-04-2.pdf and
PD-02-1.
http://www.dornc.com/practitioner/individual/directives/pd-02-1.html. As
long as your investment club does not invest in another partnership (this
would include PTPs and LLPs) or certain other types of investments, you do
not have to file.
         
        Ira Smilovitz



        
________________________________

        Get a sneak peek of the all-new AOL.com
<http://discover.aol.com/memed/aolcom30tour/?ncid=AOLAOF00020000000982> .

Arthur--I am chuckling to think of what NCDOR does with all these forms
being sent in. You suppose they just throw them away. You would think they
might let us know!! I do thank you for mentioning this today so I can also
not have to do this again!! It always seemed such a waste of my time and
theirs to report this piddling stuff!!


----- Original Message -----
From: "Arthur Klages" <aklages@triad.rr.com>
To: "'The Club Cafe'" <club_cafe@bivio.com>
Cc: <starrwp@earthlink.netr>
Sent: Saturday, August 11, 2007 4:47 PM
Subject: RE: club_cafe: Re: out of state potential member/s?


> Re NC D403 Partnership Returns.
>
>
> This requirement was changed several years ago an our club was also
> unaware
> of this.
>
> Our club used to send them until 4 years ago when my accountant advised me
> of this.
>
> We haven't sent one in since 2002 and never heard word from the NCDOR.
>
> I'm not in jail yet.
>
> Arthur Klages, Treas.
> SeniorInvestment Club
> Greensboro NC
>
>
> -----Original Message-----
> From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of Phil
> and
> Sandy Starr
> Sent: Saturday, August 11, 2007 1:55 PM
> To: The Club Cafe
> Subject: Re: club_cafe: Re: out of state potential member/s?
>
> I can't open your first link, but the second one is pretty clear!!! Do
> you
> think I just shouldn't send them the usual stuff this year or do I need to
> write them a letter explaining why I am not sending the usual?
>
> ----- Original Message -----
>
> From: IraS1@aol.com
> To: club_cafe@bivio.com
> Sent: Saturday, August 11, 2007 1:25 PM
> Subject: Re: club_cafe: Re: out of state potential member/s?
>
>
> In a message dated 8/11/2007 1:05:06 P.M. Eastern Daylight Time,
> starrwp@earthlink.net writes:
>
> My Investment Club is in North Carolina and we have to file
> an income tax
> form to the State. I file a D-403 Partnership Income Tax
> Return and I
> include 403 part 3.A. We are an investment club and our
> sole activity is
> investing. The State has never said I didn't need to file
> it.
>
>
>
> According to the instructions for NC Form D-403, certain investment
> partnerships are exempt from filing. For specifics see Directives PD-04-1
> http://www.dornc.com/practitioner/individual/directives/pd-04-2.pdf and
> PD-02-1.
> http://www.dornc.com/practitioner/individual/directives/pd-02-1.html. As
> long as your investment club does not invest in another partnership (this
> would include PTPs and LLPs) or certain other types of investments, you do
> not have to file.
>
> Ira Smilovitz
>
>
>
>
> ________________________________
>
> Get a sneak peek of the all-new AOL.com
> <http://discover.aol.com/memed/aolcom30tour/?ncid=AOLAOF00020000000982> .
>
>
>