Alabama Family Limited Liability Entity Election Form

Family Limited Liability Entity Election Form
Layout 1SCHEDULE

BPT-E

*230008BE*

BUSINESS PRIVILEGE
TAX YEAR

2023

Alabama Department of Revenue

Family Limited Liability Entity Election Form
(DISREGARDED ENTITIES DO NOT QUALIFY FOR THE FAMILY LIMITED LIABILITY ENTITY ELECTION)

1a  FEIN

1b  ELECTING FAMILY LIMITED LIABILITY ENTITY

1c Determination Period End Date
(Balance Sheet Date):
(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 )
Partnersʼ capital account from Form 1065, Schedule L: . . . . . . . . . . . . . . . . . . . . . . . . . $ •
Percentages of partnersʼ 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 entityʼs 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 entityʼs 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

Extracted from PDF file 2023-alabama-form-schedule-bpt-e.pdf, last modified June 2022

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More about the Alabama Form Schedule BPT-E Individual Income Tax TY 2023

We last updated the Family Limited Liability Entity Election Form in February 2024, so this is the latest version of Form Schedule BPT-E, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form Schedule BPT-E directly from TaxFormFinder. You can print other Alabama tax forms here.

Other Alabama Individual Income Tax Forms:

TaxFormFinder has an additional 47 Alabama income tax forms that you may need, plus all federal income tax forms.

Form Code	Form Name
Form 40	Alabama Individual Income Tax Return Tax Return
Form 40 Booklet	Form 40 Income Tax Instruction Booklet
Schedule A, B, & DC	Itemized Deductions, Interest and Dividend Income and Donation Checkoffs (Form 40)
Form 40A	Individual Income Tax Return (Short Form) Tax Return
Form 40-V	Individual Income Tax Payment Voucher Voucher

Download all AL tax forms View all 48 Alabama Income Tax Forms

Form Sources:

Alabama usually releases forms for the current tax year between January and April. We last updated Alabama Form Schedule BPT-E from the Department of Revenue in February 2024.

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About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of Alabama Form Schedule BPT-E

We have a total of two past-year versions of Form Schedule BPT-E in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:

2023 Form Schedule BPT-E

Layout 1

2022 Form Schedule BPT-E

Schedule BPT-E TY 2022.qxp

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