Jefferson, Madison, Taylor
925 W. Washington St.
Monticello
FL
32344
Phone: (850) 997-3545
Fax: (850) 997-5039
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The member generally does not recognize Nonqualified Allocated Surplus as taxable income until it is redeemed or retired in cash.
The member generally recognizes the allocation as taxable income in the year the notice of allocation is received.