Extract to table

Each state's treatment of REITs varies, and the availability of a state-level dividends-paid deduction (or equivalent mechanism) must be analyzed on a jurisdiction-by-jurisdiction basis

Delaware LLCs that are qualified to do business in Georgia as foreign limited liability companies must file annual registrations with the Georgia Secretary of State pursuant to O

These registrations must be maintained on an ongoing basis, and the annual registration fee is approximately $50 per entity

However, the Comptroller has taken the position that a disregarded entity that itself has nexus with Texas must ensure that its owner (the taxable entity) includes the disregarded entity's Texas-source revenue in its Texas franchise tax report

Accordingly, Fairwater REIT, as the sole member of the three Texas Target Entities, must include the revenue generated by GMP Westlake LLC, GMP Katy LLC, and GMP Alliance LLC in its Texas franchise tax report

Each entity that files a Texas franchise tax report must concurrently file a Public Information Report ("PIR") with the Texas Comptroller of Public Accounts