| DIGEST OF HB 1459 (Updated February 11, 2009 3:43 pm - DI 44) Taxation of investment partnerships. Provides that income received by a nonresident limited partner from an investment partnership is treated as: (1) business income subject to apportionment, if the nonresident limited partner elects to treat the income as business income or the nonresident limited partner meets certain nexus conditions through other activities; or (2) nonbusiness income allocable to the nonresident limited partner's home state, in cases where alternative (1) does not apply. |