2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 17 - Internal Revenue Code of 2011 (§§ 30001 — 33423) › PART II - Income Taxes (§§ 30041 — 30622) › Chapter 1008 - Tax Returns and Payment (§§ 30241 — 30303) › Subchapter B - Income Tax Withholding at the Source (§§ 30271 — 30282) › § 30274 - Requirement of estimated income tax payment attributable to distributive share of a partner resident or a nonresident U.S. citizen partner in a special partnership

(a) Requirement to withhold.— The partner to whom the administration of the special partnership has been delegated, or any other persons to whom the obligation to furnish the report described in § 30246(b) of this title to the partners has been delegated, shall determine and remit an amount equal to:
(1) Thirty percent (30%) of the estimated amount of the distributive share in the income of the special partnership of a partner who is a resident individual, nonresident United States citizen, or a Puerto Rico resident estate or trust and, in the case of a domestic or resident foreign corporation, an amount equal to thirty percent (30%) of the item described in § 30556(a)(10) of this title minus,
(2) the amount withheld pursuant to §§ 30272 and 30273 of this title, or the distributive share in the surtax on gross income imposed in § 30090 of this title, whichever is greater, during those periods specified in subsection (b).
(b) Requirement to file a return and pay the tax withheld.— Every special partnership shall file a return and pay the tax determined pursuant to subsection (a) not later than the fifteenth (15th) day of the fourth (4th), sixth (6th), ninth (9th), and twelfth (12th) month of the taxable year of such partnership. Such return shall be filed with the Secretary and shall contain such information and be made in such a manner as the Secretary may prescribe through regulations to such effect.
(c) Liability of the payer.— Except as otherwise provided, every person required to determine and remit any tax under the provisions of this section shall be liable to the Secretary for the payment of such tax and shall not be liable to any other person for the amount of any of such payments.
(d) Failure to withhold.— If the payer agent fails to withhold the amount referred to in subsection (a), the amount which should have been determined and remitted, unless the partner pays the tax to the Secretary, shall be collected directly from the special partnership or from the person to whom the requirement to determine and remit the income tax was delegated.
(e) Any person who fails to meet the requirement to determine and remit the income tax described in subsection (a) of this section shall be subject to the penalties set forth in §§ 33001 et seq. of this title.
(f) Whenever it is shown to the satisfaction of the Secretary, or when the Secretary him/herself determines that the requirement provided in subsection (a) shall cause undue inconvenience without leading to any practical end, since the amounts thus withheld will have to be reimbursed to the taxpayers, or because said withholding will be excessive, the Secretary may, under such rules and regulations which he/she may promulgate, release the withholding agent from making such withholding wholly or partially.
History —Jan. 31, 2011, No. 1, § 1062.04, retroactive to Jan. 1, 2011; Dec. 10, 2011, No. 232, § 68; June 30, 2013, No. 40, § 27.