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Tonya and Nancy, both calendar year taxpayers, each own a 20% interest in partnership TNT. Techron, Inc., whose fiscal year ends on June 30th 2016,
Tonya and Nancy, both calendar year taxpayers, each own a 20% interest in partnership TNT. Techron, Inc., whose fiscal year ends on June 30th 2016, owns a 60 percent interest and partnership TNT. TNT has not established a business purpose for using a different tax year, nor has it made a fiscal year tax year election. On what date does Partnership TNTs required tax year end?
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