Election Out for Certain Partnerships with 100 or Fewer Partners, Etc.-BBA

ID:
UILC:
CCA_2021072610404143
6221B.01-00
Number: 202147012
Release Date: 11/26/2021
From: ---
Sent: Monday, July 26, 2021 10:40:41 AM
To: ---
Cc:
Bcc:
Subject: RE: --- and BBA
Hi ---
Whether an entity is tax-exempt/not-for-profit or not has nothing to do with whether an entity is an eligible partner for purposes of election out under BBA. It solely depends on what type of entity the partner is. A tax-exempt/not-for-profit entity still has an entity type (e.g., C corp, etc).
Please let me know if you have any questions.
Thanks,
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