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) › § 30243 - Partnership returns

(a) General rule.— Every partnership 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 partners who shall participate in the partnership’s 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 15 following the close of such calendar year. The returns submitted on the basis of fiscal year shall be filed not later than the fifteenth (15th) day of the third (3rd) month following the close of the taxable year of the partnership. 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 managing partner. Notwithstanding the above, in those cases in which returns are filed electronically, the electronic signature of the managing partner 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 such other information that shall be included in this return.
(b) Report to partners.— Each partnership required to file a return under subsection (a) for any taxable year shall, not later than the third (3rd) month following the close of its taxable year, furnish to each person who is a partner, a report containing such information as required to be included in the partner’s return, including the amount of the distributive share in each of the items prescribed in §§ 30333 and 30334 of this title, the initial contribution, and the additional contributions made by the partner to the partnership capital, the distributions made by the partnership, and any other additional information required by regulations.
(c) Automatic extension.— An automatic extension shall be granted to file a return required under subsection (a) provided that the 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 partnership requests such extension not later than on the return filing date.
(d) Extension.— The Secretary may, under the rules and regulations he/she prescribes, grant partnerships 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 established in such subsection (b) to submit the report to partners. The Secretary shall prescribe by regulation the information to be included in the return.
(e) In the case of a partnership existing as of the effective date of this Code that, pursuant to the requirements prescribed by the Secretary through regulations, administrative determination, or circular letter to such effect, opts to continue to be treated as a corporation for purposes of this part, shall file its income tax return in the same manner and form as a corporation, subject to the provisions of § 30242 of this title.
History —Jan. 31, 2011, No. 1, § 1061.03, retroactive to Jan. 1, 2011.