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Clubs in Arizona, California, Indiana, Iowa, Massachusetts, New Jersey, New York & Wisconsin
Arizona
Partnerships in Arizona are now required to e-File their returns, and thus paper forms are no longer provided in the Club State Tax Printer. Clubs using myICLUB.com may e-File their return using the myICLUB.com Club State Tax Printer. However, according to the state, clubs that disband mid-year . The state suggests that if closing cannot be put off until later in the year, clubs need to print and mail in the necessary forms. Fillable forms and instructions are available at the following links:
California
If your investment club is organized as a Limited Liability Company (LLC) in the State of California, it must use CA Form 568 ("Limited Liability Company Return of Income") to file its required annual tax return. However, ICLUBcentral does not support CA Form 568 and so you may not use the myICLUB.com Club Tax Printer. If your club is organized as an LLC in California, you may download Form 568, related schedules, and instructions from the California Franchise Tax Board website.
Indiana
All clubs in Indiana must file tax returns. Beginning with the 2020 tax year, an investment club partnership in Indiana that has more than 24 partners must by law file electronically (e-File). The myICLUB.com Club State Tax Printer supports e-Filing beginning with the 2021 tax year and all clubs will be required to e-File their returns.
Iowa
Iowa requires that partnerships e-File their returns. Beginning in the 2023 tax year, the myICLUB.com Club State Tax Printer supports e-Filing for Iowa.
Massachusetts
All clubs in Massachusetts must file tax returns. If your investment club partnership is in Massachusetts and meets any one of the following criteria, you must e-File your return using the myICLUB.com Club State Tax Printer (beginning with the 2020 tax year).
- Have 25 or more partners (as determined by number of Schedule K-1s at the federal level or Schedule 3K-1s at the state level); or
- Have more than $50,000 in gross income (sum of interest, dividend, and other income for investment clubs); or
- Have more than $100,000 in stock sale proceeds (gross sales proceeds, not taxable capital gain).
New Jersey
All clubs in New Jersey must file tax returns. If your investment club partnership is in New Jersey and has 10 or more members (as determined by the number of Schedule K-1s at the federal level), then you must e-File your return using the myICLUB.com Club State Tax Printer (beginning with the 2020 tax year).
New York
Partnerships in New York are required to e-File their returns if they are using tax preparation software, and thus paper forms are no longer provided in the Club State Tax Printer. Clubs using myICLUB.com may e-File their return using the myICLUB.com Club State Tax Printer.
Wisconsin
Partnerships in Wisconsin are now required to e-File their returns, and thus paper forms are no longer provided in the Club State Tax Printer. Clubs using myICLUB.com may e-File their return using the myICLUB.com Club State Tax Printer. According to the state, clubs that disband mid-year may not file their required short-year final return on paper or electronically, and should wait to file until the release of the forms for the next tax year before filing.
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