2018 District of Columbia Code
Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title]
Chapter 18 - Income and Franchise Taxes.
Subchapter VIII - Tax on Unincorporated Businesses.
§ 47–1808.04. Tax on unincorporated businesses — Exemption.
Before computing the tax upon the taxable income of an unincorporated business, there shall be deducted therefrom an exemption of $5,000; except, that where the period covered by a return is less than a year, or where a return shows that an unincorporated business has been carried on for less than 12 months, such exemption shall be prorated on a daily basis; provided, however, that any amount exempt under this section from the tax imposed by § 47-1808.03 shall be reported and included in the gross income of that person or those persons entitled to a share therein in proportion to the share to which each person is entitled, and shall be reported in the return of each such person for his or her taxable year in which is ended the taxable year of the unincorporated business.
(July 16, 1947, 61 Stat. 346, ch. 258, art. I, title VIII, § 4; May 27, 1949, 63 Stat. 132, ch. 146, title IV, § 416; Feb. 3, 1976, D.C. Law 1-44, § 4, 23 DCR 4057; Oct. 8, 1983, D.C. Law 5-32, § 6(b), 30 DCR 4013; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
Prior Codifications1981 Ed., § 47-1808.4.
1973 Ed., § 47-1574c.
Section ReferencesThis section is referenced in § 6-1504, § 47-1803.03, and § 47-1808.02.
Cross ReferencesEconomic development zones, eligibility for tax incentives, see § 6-1504.
Editor's NotesMayor authorized to issue regulations: Section 9 of D.C. Law 5-32 provided that the Mayor shall issue regulations necessary to carry out the provisions of the act.
