Yes you should include this on both your Federal and State income tax.
- A pass-through entity means the income from the company passes through to the owners' personal income.
- There may or may not be a separate tax form required for the partnerships, but the state does require an annual report to be filed.
- I suggest you contact a local professional to determine if you do require a tax return, need to distribute the income, and how to file the Massachusetts annual report.
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