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 A - Income Tax Returns (§§ 30241 — 30264) › § 30244 - Limited liability company return

(a) General rule.— Every limited liability company shall file a return for each taxable year, stating specifically the items of its gross income and the deductions allowable by this part, the names, address, and account numbers of members who have a distributive share in the limited liability company gain or loss for such taxable year, and the amounts of such gains or losses. The returns filed under this section on a calendar year basis shall be filed not later than March 15th following the close of such calendar year. Returns filed on a fiscal year basis shall be filed not later than the fifteenth (15th) day of the third (3rd) month following the close of the taxable year of the limited liability company. Any amount due on the account of estimated payment, as provided in § 30277 of this title, shall be paid in full when filing the return required by this section. The return shall be signed under penalty of perjury by the president, vice-president, the treasurer or assistant treasurer or other chief financial officer. Notwithstanding the above, in those cases in which returns are filed through electronic means, the digital signature of the above mentioned officers shall be accepted as evidence of authentication that the returns are filed under penalty of perjury. Such returns must enclose financial statements, subject to the provisions of § 30255 of this title. The Secretary may prescribe, by regulations, any other information that shall be included in said return.
(b) Report to members.— Each limited liability company required to file a return under subsection (a) for any taxable year shall, not later than the last day of the third (3rd) month following the close of its taxable year, furnish to each person who is a member of said limited liability company a report containing such information as required to be included in the member’s return, including the amount of the distributive share of the member in each of the items prescribed in §§ 30333 and 30334 of this title, the initial contribution, and the additional contributions made by the member to the limited liability company capital, the distributions made by the limited liability company, and any other additional information required by regulations.
(c) Automatic extension.— An automatic extension shall be granted to file the return required under subsection (a) provided that such rules and regulations that the Secretary prescribes to grant such extension are complied with. This automatic extension shall be granted for a three (3) month period counted as of the due date set in subsection (a) for filing the return, provided that the limited liability company requests such extension not later than on the return filing date.
(d) Extension.— The Secretary may, under such rules and regulations as he/she prescribes, grant limited liability companies an automatic extension to file the information required under subsection (b) for a period which shall not exceed one (1) month counted as of the date set in such subsection (b) to submit the report to members. The Secretary shall prescribe by regulation the information to be included in the return.
(e) In the case of limited liability companies treated as corporations, for purposes of this part they shall file their income tax returns in the same manner and form as corporations, subject to the provisions of § 30242 of this title.
History —Jan. 31, 2011, No. 1, § 1061.04, retroactive to Jan. 1, 2011; Dec. 10, 2011, No. 232, § 57.